S. Korea says Japan is in violation global agreement as export curb kicks in
- 5 years ago
유명희 통상본부장 "日수출통제, 바세나르체제 기본지침 위배"
Staying with Japan's export curbs.
Seoul's trade ministry echoed the nation's top office, that Tokyo is violating global agreements.
Ko Roon-hee tells us more.
Korea's trade ministry held a meeting on Thursday to discuss possible countermeasures... to Tokyo's export restrictions on high-tech materials used to make semiconductors and displays.
The attendees included trade minister Yoo Myung-hee and business representatives from the chip and display industries.
Minister Yoo said Japan's actions are in violation of the Wassenaar Arrangement... which covers the export of technologies that could have military applications.
"The Wassenaar Arrangement is not designed to impede bona fide civil transactions, nor should it be directed against any state or group of states. However, Japan's recent move is only targeting Korea, limiting transactions between two countries' private companies with good intentions. Therefore, it is violating the arrangement."
The government again raised norms related to the WTO.
Minister Yoo referred to Article 11 of the General Agreement on Tariffs and Trade,... which led to the creation of the WTO,... which bans prohibitions or restrictions on export volumes.
She also vowed to announce measures to diversify import sources of core materials, parts and equipment soon.
Earlier in the day, Korea's finance minister Hong Nam-ki, also criticized Japan's new trade restrictions,... calling them a clear act of economic retaliation.
In an interview Thursday with CBS radio,... Hong said... the government will take countermeasures if Japan doesn't back down.
The restrictions, he said, will not only hurt the Korean economy but also Japan's.
As for filing a complaint at the World Trade Organization... Hong said the government will decide when to file the complaint after an internal review... but noted that it will be a lengthy process.
Ko Roon-hee, Arirang News.
Staying with Japan's export curbs.
Seoul's trade ministry echoed the nation's top office, that Tokyo is violating global agreements.
Ko Roon-hee tells us more.
Korea's trade ministry held a meeting on Thursday to discuss possible countermeasures... to Tokyo's export restrictions on high-tech materials used to make semiconductors and displays.
The attendees included trade minister Yoo Myung-hee and business representatives from the chip and display industries.
Minister Yoo said Japan's actions are in violation of the Wassenaar Arrangement... which covers the export of technologies that could have military applications.
"The Wassenaar Arrangement is not designed to impede bona fide civil transactions, nor should it be directed against any state or group of states. However, Japan's recent move is only targeting Korea, limiting transactions between two countries' private companies with good intentions. Therefore, it is violating the arrangement."
The government again raised norms related to the WTO.
Minister Yoo referred to Article 11 of the General Agreement on Tariffs and Trade,... which led to the creation of the WTO,... which bans prohibitions or restrictions on export volumes.
She also vowed to announce measures to diversify import sources of core materials, parts and equipment soon.
Earlier in the day, Korea's finance minister Hong Nam-ki, also criticized Japan's new trade restrictions,... calling them a clear act of economic retaliation.
In an interview Thursday with CBS radio,... Hong said... the government will take countermeasures if Japan doesn't back down.
The restrictions, he said, will not only hurt the Korean economy but also Japan's.
As for filing a complaint at the World Trade Organization... Hong said the government will decide when to file the complaint after an internal review... but noted that it will be a lengthy process.
Ko Roon-hee, Arirang News.