AP: South Korea to remove Japan from preferred trade list

South Korean Trade Minister Sung Yun-mo speaks during a press conference at the government complex in Sejong, South Korea, Monday, Aug. 12, 2019. South Korea says it has decided to remove Japan from a list of nations receiving preferential treatment in trade in what was seen as a retaliatory move to Tokyo's recent decision to downgrade Seoul's trade status. (Jin Sung-chul/Yonhap via AP)

August 12, 2019
KIM TONG-HYUNG

People pass by a banner with an image of Japanese Prime Minister Shinzo Abe to denounce Japan’s trade restrictions on South Korea on a street in Seoul, South Korea, Monday, Aug 12, 2019. South Korea said Monday that it has decided to remove Japan from a list of nations receiving preferential treatment in trade in what was seen as a countermeasure to Tokyo’s recent decision to downgrade Seoul’s trade status amid a diplomatic row. The sign reads “No Abe.” (AP Photo/Ahn Young-joon)
A South Korean woman takes pictures of banners with image of Japanese Prime Minister Shinzo Abe to denounce Japan’s trade restrictions on South Korea on a street in Seoul, South Korea, Monday, Aug 12, 2019. South Korea said Monday that it has decided to remove Japan from a list of nations receiving preferential treatment in trade in what was seen as a countermeasure to Tokyo’s recent decision to downgrade Seoul’s trade status amid a diplomatic row. The sign reads “No Abe.” (AP Photo/Ahn Young-joon)

SEOUL, South Korea (AP) — South Korea said Monday that it has decided to remove Japan from a list of nations receiving preferential treatment in trade in what was seen as a tit-for-tat move following Tokyo’s recent decision to downgrade Seoul’s trade status amid a diplomatic row.

It wasn’t immediately clear how South Korea’s tightened export controls would impact bilateral trade. Seoul said some South Korean companies exporting to Japan will be able to receive exceptions from case-by-case inspections that are normally applied on sensitive shipments to nations with lower trade status and go through the same fast-track approval process that they currently enjoy.

Source: AP

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South Korea to remove Japan from preferred trade list
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South Korea to remove Japan from preferred trade list
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South Korea said Monday that it has decided to remove Japan from a list of nations receiving preferential treatment in trade in what was seen as a tit-for-tat move following Tokyo’s recent decision to downgrade Seoul’s trade status amid a diplomatic row.