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World Ch. Schedule : WED 20:30 KST

* Date : 2019-08-15

Episode 63 Repercussions of S. Korea-Japan trade spat, any diplomatic solutions?

Ten days after Japan removed South Korea from its trade whitelist, Seoul announced it would withdraw Japan from its list of trusted trading partners on August 12th. In Seoul’s announcement of its revised export controls system, Tokyo was downgraded from the list of nations that are given preferential trade treatment. Japan meanwhile, approved just singular case of key materials export to South Korea since placing the export curbs. Given that the export to South Korea was permitted unreasonably quickly following its whitelist removal, Japan’s move could be seen as an excuse to allege to the global community that its measures are not economic sanctions. On August 11th, Japanese newspaper Mainichi Shimbun reported the U.S. is backing Japan on its ongoing dispute between South Korea regarding the forced labor issue and the 1965 bilateral treaty. Blue House has flatly denied the claim. It indicates the two nations are remaining vigilant on how the U.S., a side that could directly affect both countries’ economies, would respond to the bilateral spat.
This episode, we discuss with experts about the aftermath and possible diplomatic solutions to the heightened trade spat.

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