EXPORT REGULATION CONFLICTS AT WTO

[Anchor Lead]

We start off today with updates on the ongoing dispute over Japan's export restrictions on semiconductor materials. During the World Trade Organization Goods Council held in Geneva, the South Korean government openly criticized Japan's move, and argued that economic retaliation for a political purpose is inappropriate.

[Pkg]

South Korea urgently introduced an additional agenda item during a meeting of the WTO Goods Council held in Geneva: Japan's trade regulatory action against Korea. At the meeting, Korea's Ambassador to the UN, Paik Ji-ah criticized Tokyo's export curbs and demanded a swift withdrawal. During that session with WTO member nations, the envoy stressed Japan's export control only targets one country and is an economic retaliation with a political purpose. Paik also expressed deep regret over the fact that Japan announced the restrictions immediately after emphasizing free and fair trade as the host of the G-20 summit in Osaka. She added that "damaged trust" and "inappropriate circumstances" cited by Japan do not constitute proper grounds for trade restrictions under WTO regulations, and demanded an explanation from Tokyo. Paik also said that Japan's action adversely affects not only Korean firms but international trade, and that the move seriously harms free trade values. In response, Japan's representative in Geneva, Junichi Ihara, defended his country's action as a necessary step to review Japan's export system related to national security, and emphasized the measures were not export restrictions. The South Korean government plans to continue raising the issue on the world stage and take response measures such as seeking a dispute resolution through the WTO.