Search ForexCrunch

In an interview with a national radio, the South Korean Finance Minister Hong Nam-ki did not rule out direct countermeasures against Japan if it keeps restrictions on exports of high-tech materials to its companies for a long time.

Hong said: “Implementing corresponding measures against Japan cannot be ruled out because it will take a long time for the World Trade Organization to produce a conclusion.”

Hong added that he expected the South Korean central bank’s monetary policy committee to take recent changes in economic conditions into account when it decides on its interest rate policy.

Extra Reading:

Japan to tighten curbs on tech exports to  South Korea – Reuters

Moody’s: Japan’s export curbs credit negative for Korean tech firms