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South Korea moves Japan to trade ‘white list’ as President Yoon Suk-yeol consolidates upswing in ties
- South Korean President Yoon Suk-yeol makes ‘first move’ to remove trade obstacles with Japan, says Tokyo will ‘follow’ if Seoul takes initiative
- Following summit with Japan’s PM Kishida, move aims to improve strained bilateral ties and combine semiconductor expertise, helping global supply chains
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South Korean President Yoon Suk-yeol has made the first move to remove trade obstacles with Japan as Seoul wants key semiconductor supply chain roles following a summit agreement to normalise ties marred by Japan’s wartime past.
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During a cabinet meeting on Tuesday, Yoon said he would order officials to begin procedures that would return Japan to its “white list” of countries with fast-track trade status as a follow-up measure to his Tokyo summit with Japanese Prime Minister Fumio Kishida last week.
“I am making the first move to put Japan back on our white list and ordering today the trade ministry to embark on legal steps to do so,” said Yoon, according to his presidential office.
“If we first take the initiative in removing obstacles [that hinder the improvement of bilateral ties], Japan will certainly follow up with its own measures,” he said.
A better relationship would facilitate efforts to combine South Korea’s manufacturing prowess in semiconductors and other cutting-edge industries with Japan’s competitiveness in materials, parts and equipment, and this combination would help stabilise global semiconductor supply chains, Yoon added.
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In an apparent bid to outcompete China, the United States last month launched a new dialogue forum with Japan and South Korea on “friend-shoring” semiconductors – meaning making and sourcing raw materials and components within a group of countries with shared values.
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