Let's get some more expert analysis.
For that I am pleased to be joined by Dr. Kim Young-han, Professor of Global Economics at Sungkyungkwan University.
Professor Kim thank you for coming in today.
1. Let's first look at the impact of Japan's latest move on Korean businesses. The local semiconductor industry will take the biggest hit as materials needed to make chips will be harder to import. But there are hundreds of other items that will be subject to Japan's tighter permit system. Which sectors besides semiconductors do you think will be take a hit?
2. Many analysts are saying that Tokyo's retaliatory moves are a double-edged sword that will also hurt Japanese firms, as well as the global economy. What are your thoughts? Do you think they will have much of an impact?
3. President Moon is obviously not happy. He's warned of what he called "severe consequences". But he also says he's confident Korea can overcome this hurdle. What options does Korea have to counter Tokyo's latest move. Is scrapping GSOMIA one of them?
4. Finance Minister Hong Nam-ki held a press conference shortly after Japan's decision was announced. He mentioned Korea will also remove Japan from its whitelist. What are your thoughts on Mr. Hong's press briefing.
Dr. Kim I'm afraid that's where we will have to leave things for now. Thank for your insights today.