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S. Korea's Finance Minister Urges Japan to Retract Export Curbs

Write: 2019-07-17 10:01:39Update: 2019-07-17 15:46:56

S. Korea's Finance Minister Urges Japan to Retract Export Curbs

Photo : YONHAP News

South Korea's Finance Minister Hong Nam-ki has pressed Japan to withdraw its export restrictions on high-tech materials and hold talks over the issue.

The minister made the call on Wednesday in opening remarks at a meeting with the heads of economy-related ministries in Seoul.

Hong said that further deterioration of the situation caused by a lack of communication is undesirable for the two nations’ economies as well as global markets.

The minister said that Japan's trade restrictions that unfairly target a specific country are worrying, adding the move could undermine the foundation of Seoul and Tokyo's economic cooperation.

He said the Japanese move could further weaken a global value chain beyond Northeast Asia, which in turn could impede global economic growth.

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