Japan not thinking of scrapping South Korea export curbs, industry minister says

TOKYO - Industry minister Hiroshige Seko said on Tuesday that Japan was"not thinking at all" of withdrawing restrictions on Japanese high-tech exports to South Korea and that the curbs did not violate World Trade Organization rules.

Whether Japan implements additional restrictions depends on South Korea's response to the matter, Seko told a regular news conference after a cabinet meeting. Japan announced curbs last week on high-tech exports of materials used in smartphone displays and chips to South Korea amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two.

Officials from Japan and South Korea plan to hold talks as early as this week on Japanese export restrictions, the Yomiuri newspaper reported on Tuesday. The talks would take place in Japan, the Japanese daily reported without citing sources. A spokesman at South Korea’s trade ministry said it was in talks with its Japanese counterpart about the timing and agenda for bilateral talks but nothing had been decided.

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South Korea: Stocks fall over 2% on reduced bets on steep US rate cuts[SEOUL] South Korean shares fell over 2 per cent on Monday, the most in two months, as strong US jobs data tempered expectations of aggressive rate cuts by the Federal Reserve, and continued tensions between the world's two largest economies dampened investor sentiment. Read more at The Business Times.
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