Seoul's Foreign Ministry said on Thursday it cannot accept Japan's claim that South Korea failed to keep its promise under international law.

Ministry spokesman Kim In-chul said at a regular briefing that Japan's export restriction against South Korea is an irrational economic retaliation that defies common sense.

Kim expressed strong regret and urged Tokyo to immediately withdraw the export restrictions.

Japanese Prime Minister Shinzo Abe had said on Wednesday that South Korea did not keep promises made between the countries under international law. 

Abe was referring to a 1965 bilateral treaty on colonial matters and a 2015 agreement reached with the-then South Korean government to settle Japan's wartime sex slavery issue.

The spokesman added that Seoul's proposal for creating a joint fund to secure money for compensating Korean victims of Japan's forced wartime labor still remains valid.