Bolton to make 2-day visit to S.Korea: Seoul

21 Juillet, 2019, 20:25 | Auteur: Auguste Feret
  • Bolton to make 2-day visit to S.Korea: Seoul

But the Korean government aims to tell other members the unfair measures taken by Japan before officially taking the case to the WTO.

Japan has tightened regulations on exports to South Korea of three critical industrial materials in an apparent retaliation over last year's South Korean Supreme Court rulings that ordered Japanese firms to compensate victims of forced labor during Japan's 1910-45 colonial rule of the Korean Peninsula.

Japan says the issue was resolved under an agreement signed after relations with South Korea were normalised, which included a package of loans.

Article 1 of GATT specifies that a country must offer the same terms to the whole world, not just one country. Bolton is expected to visit Seoul for two days from Tuesday after talks with Japanese officials in Tokyo.

Alongside the council, South Korea's Ministry of Trade, Industry and Energy plans to deliver an opinion this week to the Japanese government to press it to withdraw the export curbs. "It will include all the grounds and evidence that can back the stance of the Korean government", said an official of the Industry Ministry.

"It's like a full-time job getting involved between Japan and South Korea", Trump said, adding that he would be there only if the two countries need him.

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The world's seventh-largest exporter reached $181 billion in exports from January to April, a 6.9 percent drop from the same period of past year. If Korea was delisted, it would have far-reaching repercussions on bilateral trade and beyond.

More broadly, given the volume of trade between the two neighbours, if the restrictions are sustained or expanded it would have "no small impact on our economy", South Korea's central bank chief Lee Ju-yeol told reporters.

Such diplomatic angsts had been ramping up a widespread boycott of Japanese products alongside services in South Korea, from beers to pens, clothes to travels, unsettling business environments in such way what was being called as the worth economic climate on the shores of South Pacific Ocean in a decade.

The unprecedented move by Japan jarred South Korean chipmakers, including Samsung Electronics, the world's largest memory chip maker.

A South Korean official said last week Washington had yet to make any official request to Seoul on the issue.

He also plans to discuss countermeasures to Japan's further export restrictions.

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