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.