South Korea's key industries have not suffered any losses since Tokyo introduced restrictions on exports to the country of three key materials necessary for chip and display industries eight months ago, South Korean Industry Minister Sung Yun-mo said on Monday
MOSCOW (Pakistan Point News / Sputnik - 17th February, 2020) South Korea's key industries have not suffered any losses since Tokyo introduced restrictions on exports to the country of three key materials necessary for chip and display industries eight months ago, South Korean Industry Minister Sung Yun-mo said on Monday.
"There was not a single disruption in the country's production (of affected goods) despite the abrupt export restrictions by Tokyo," Sung said during a policy report to President Moon Jae-in, as quoted by the national Yonhap news agency.
According to the minister, the supply of the three materials will be fully normalized this year, as Seoul has been implementing measures on diversifying its suppliers and developing domestic technologies.
Last July, in the wake of a 2018 South Korean Supreme Court decision that ordered several Japanese companies to pay reparations for their use of forced labor during World War II, Tokyo announced restrictions on exports of particular chemicals and components vital to South Korea's technological industry. Two months later, Japan removed South Korea from its export "whitelist," adding further restrictions on roughly 1,000 items, which prompted Seoul to file a complaint with the World Trade Organization in September.
