Sung Yoon-mo, the South Korean Industry Minister, warned on Wednesday that if Japan removes South Korea from a Japanese list of countries that face minimum trade restrictions, it would undermine their decades-old economic and security cooperation and threaten free trade, as cited by Reuters.
Key Quotes:
“It is a very grave matter that shakes the foundation of South Korea-Japan economic partnership and Northeast Asian security cooperation that has been maintained and developed for more than 60 years.”
“Removal of South Korea from the white list of countries is against international norms and we are worried about its serious negative impact on global value chains and free trade.”
His comments come after Japan threatened to drop South Korea from the white list, escalating the trade row between the two Asian countries.
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