World

Japan To Add South Korea To Trade ‘White List’ To Strengthen Ties

South Korea will be reinstated to Japan’s list of trusted trade partners in July, the government announced Tuesday, restoring its exclusion in 2019 amid a dispute over historical forced labour.

The move, which follows Seoul’s restoration of Japan to its own trade ‘white list’ earlier this year, is the latest step in the neighbours’ effort to heat ties.

According to Tokyo’s trade ministry, trade with South Korea will once again be expedited beginning in July.

Because of the painful memories of Japan’s brutal occupation of the Korean peninsula from 1910 to 1945, relations between the two United States allies have long been strained.

South Korea’s Supreme Court ordered Japanese companies to compensate the wartime victims of forced labour in 2018, provoking an escalation of tit-for-tat economic sanctions.

Also read: Chinese Journalist Banned From Social Media Despite 4.7 Million Followers

However, since taking office last year, South Korean President Yoon Suk Yeol has moved to fast enhance ties with Japan in the face of North Korean threats.

Yoon proposed a proposal to compensate victims without direct involvement from Tokyo in March, a move that was unpopular at home
but helped mend relations with Japan.

Yoon and Japanese Prime Minister Fumio Kishida have resumed regular high-level meetings since then, with Yoon visiting Tokyo in April and Kishida travelling to Seoul last month.

Japan also lifted export curbs on semiconductor materials for South Korea this year, while Seoul abandoned a WTO case against Japan and proceeded to normalise a military intelligence-sharing pact.

Also read: WhatsApp Business Users Increase By Fourfold In Just Three Years

Spriha Rai

Recent Posts

‘In Kabul, A Cat Has More Freedom Than A Woman’: Revisiting Women’s Struggles Under The Taliban

The Taliban’s regime has since imposed over 100 laws restricting women's rights, stripping them of…

2 hours ago

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

5 hours ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

6 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

6 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

7 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

7 hours ago