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S. Korea to Halt Dispute Settlement with WTO over Japan's Export Curbs

Written: 2023-03-06 15:37:54Updated: 2023-03-06 15:51:59

S. Korea to Halt Dispute Settlement with WTO over Japan's Export Curbs

Photo : YONHAP News

South Korea has decided to halt the dispute settlement process it began with the World Trade Organization(WTO) over Japan's export curbs as the two parties prepare for official talks on lifting the restrictions.

According to the Ministry of Trade, Industry and Energy on Monday, the two countries agreed to swiftly conduct bilateral consultations on export control issues to restore trade relations to the condition preceding the enactment of the restrictions by Tokyo.
The ministry added that the complaint Seoul filed with the WTO on the curbs will be suspended while related discussions proceed, with a policy meeting expected to be held soon.

In 2019, Tokyo imposed export controls on three major industrial materials to Seoul in apparent retaliation for the South Korean Supreme Court's ruling the previous year that ordered Japanese companies to pay compensation to Korean victims of Japan’s wartime forced labor.

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