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

How US Presidential Election Is Conducted – Explained

The US presidential election is a complex, multi-step process that involves both voters and an…

25 mins ago

Mumbai Police Uncover Connections & Weapons In Baba Siddiqui Murder Investigation

The Mumbai Police disclosed that the firearms used to assassinate late NCP leader Baba Siddiqui…

1 hour ago

Mumbai Police Investigate New Death Threat Against Salman Khan Linked To Gangster Lawrence Bishnoi

Mumbai Police is investigating a threatening message directed at actor Salman Khan, allegedly originating from…

2 hours ago

Uttar Pradesh Government To Tighten Control Over DGP Appointment Before By-Elections

Ahead of the by-elections, CM Yogi Adityanath's government in Uttar Pradesh will take greater control…

2 hours ago

Somy Ali Opens Up About Her Past With Salman Khan, Says “Being Known As His Ex Is A Curse”

Somy Ali, the former Bollywood actress and dedicated social worker, has shared her feelings about…

2 hours ago

External Affairs Minister S Jaishankar Raises Alarm Over Attack On Hindu Temple In Canada

External Affairs Minister S Jaishankar expressed grave concerns regarding the recent violent incident at a…

3 hours ago