The newly appointed Japanese Trade Minister, Isshu Sugawara, 57, have said that Japan would not review the exports restrictions that it has sanctioned against South Korea. But also further said that Japan is assessing whether to agree or not to a bilateral consultation at the WTO level as per request by South Korea.
Under WTO guidelines, Japan is said to respond to the request for bilateral consultation within 10 days and both the parties have to resolve the issue within 60 days. And if the issue is not resolved within the stipulated period, a panel from WTO would assess and decide on the issue within two years.
Japan had curb the exports of three chemicals used in manufacturing of memory chips and display screen used extensively by its industries including giants like Samsung and LG in July. It has also removed South Korea from the whitelist of preferential trading partners last month.
South Korea responded by banning Japanese ‘war crime’ firms including Mitsubishi from South Korean cities of Busan and Tokyo and discontinued the GSMIA (General Security of Military Information Agreement) with Japan that had allowed sharing of sensitive military information against North Korea.
The newly appointed trade minister have said that their decision wouldn’t change as the technology transferred could be used irresponsibly and also in making weapons of mass destruction.
The trade war between the two countries escalated when the Supreme Court of South Korea has asked for wartime reparation to Japan. Japan responded by stating that all war time compensation have been given during a 1965 agreement with South Korea. Between 1910 and 1945, South Korea was a colony of the Japan.
Meanwhile, Japan have reiterated its stance and stated that there was a breach of trust on South Korea’s part regarding national security and said that the exports curb on chemicals were inevitable and necessary.