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Japan's METI Expected To Return South Korea To Its Whitelist Of Trade Partners

ASIA

Japan's Ministry of Economy, Trade and Industry will reinstate South Korea's status as a preferred trading partner, formerly known as a "White List," local media outlets reported today.

  • Japan removed South Korea from the list of "Group A" countries with preferential export treatment in 2019 amid simmering tensions over the issue of compensation for wartime forced labourers.
  • Shared geopolitical challenged forced Tokyo and Seoul to intensify bilateral dialogue in the recent months, leading to a broader rapprochement and tighter cooperation in areas such as trade and national security.
  • Japan's METI said that it is seeking public opinions on restoring South Korea's preferred trading partner status, adding that the move will streamline export processes.
Energy BulletsCommoditiesBank of Japan (BOJ) Market News
Energy BulletsCommoditiesBank of Japan (BOJ) Market News

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