South Korea back on Japan’s ‘whitelist’ after years of export control restrictions
South Korea said it has been reinstated to Japan’s ‘whitelist’ of trading partners, signifying that ‘Korea-Japan export control issues are fully resolved after four years of restrictions since imposing them in July, 2019.’
For the past several months, Japan and Korea have been putting old war-related differences aside and moving toward a partnership built on tech ties focused on semiconductor technology, at a time when the United States has been pressuring both countries to put up export controls and deny that technology to China.
‘The Japanese government has decided to reinstate Korea back in the Appended Table 3 of the Export Trade Control Order, or also known as Japan’s “white list” of trading partners,’ the Ministry of Trade, Industry and Energy (‘MOTIE’) in Seoul said, 28 June.
‘With this reinstatement, both Korean and Japanese firms are expected to benefit as the latter can become eligible for softer requirements and blanket licenses in exporting strategic goods to Korea,’ MOTIE said, adding that ‘trust in trading between the two countries has fully recovered.’
‘Korea and Japan will continue to make joint efforts concerning bilateral and multilateral export control issues in the future,’ it added.
The amendment enters into force on 21 July.
