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Japan's export restrictions expected to cut two countries' GDP: KERI economist Updated: 2019-07-11 09:38:02 KST

South Korea's private research institute's projection shows. Japan's export restrictions on Seoul are expected to damage both countries' GDP.
Cho Gyeong-lyeob, senior research fellow from the Korea Economic Research Institute said on Wednesday,. that if Korean companies suffer a 30 percent drop in semiconductor-related supplies, South Korea's annual GDP would drop by around 2.2 percent.
Cho forecast that Japan's GDP would also edge down zero.zero-four percent.
And if Seoul were to retaliate by restricting exports on chips and chip components to Tokyo,. South Korea's GDP would slump at least by an estimated three percent.
Reporter : krh@arirang.com
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