South Korea's National Security Council(NSC) says Japan's export restrictions of key tech materials is "political retaliation" and in clear violation of international trade rules.

The standing members of the NSC held a meeting presided over by the presidential chief security adviser Chung Eui-yong on Thursday, reviewing their response measures to Tokyo's decision.

Following the meeting, they issued a statement, characterizing Japan's move as political revenge. They also said Japan is explicitly breaching World Trade Organization(WTO) norms with the restrictions. 

During a local radio interview on Thursday, Seoul's Finance Minister Hong Nam-ki urged Japan to withdraw its export restrictions, denouncing them as "economic retaliation." 

Hong said Seoul will decide when to file a complaint with the WTO, warning that Japan's export restrictions could hurt not only Seoul but Tokyo as well.