Seoul has expressed regret over Tokyo’s decision to restrict exports of key electronic components to South Korea following the South Korean top court rulings against some Japanese companies involved in Japan’s wartime forced labor of Koreans. 

Trade, Industry and Energy Minister Sung Yun-mo said Monday that a country using economic retaliation on the ground of a Supreme Court decision in another country is nonsensical and goes against the democratic principle of balance of power between the parliament, the executive and the judiciary. 

He said Japan’s move was also violation of World Trade Organization(WTO) rules and collides head-on with the statement issued at the just-concluded G20 Summit in Osaka, which emphasized the need for free, fair and nondiscriminatory investment. 

The minister said South Korea will take necessary steps based on international and domestic laws, including taking the case to the WTO. 

He said the government will also try to minimize damage through close communication with the domestic industry, while vowing to turn the crisis into an opportunity to enhance the competitiveness of the local industry. 

Earlier in the day, Japan said it would suspend preferential treatment it has given to South Korea regarding exports of materials used to make semiconductors and smartphones.