Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
'Removing Korea from white list will endanger alliance'
Minister of Trade, Industry and Energy Sung Yun-mo speaks during a press conference at the Government Complex in Seoul, Wednesday. Courtesy of Ministry of Trade, Industry and Energy
By Nam Hyun-woo
By Nam Hyun-woo
Japan's plan to remove Korea from its “white list” of countries with preferential trade treatment will endanger the alliance between Korea, Japan and the United States and threaten regional security in Northeast Asia, the trade minister said Wednesday.
Minister of Trade, Industry and Energy Sung Yun-mo said the Korean government has delivered its “written opinion” to Tokyo. This is the first time Korea has delivered a message this way to Japan over economic issues.
The document contains details on why Japan's July 4 export restrictions on three materials for manufacturing semiconductors, and an additional move to remove Korea from its whitelist of 27 countries are unfair and groundless.
“The groundless export curbs on three materials for semiconductors should be lifted immediately and the action to remove Korea from its whitelist should also be scrapped,” Sung said during a press conference at the Government Complex in Seoul.
“The attempt to remove Korea from its whitelist is an especially serious issue which sways the foundation of the cooperation between Korea, Japan and the U.S. on security in Northeast Asia, as well as dealing a heavy blow to the Korea-Japan economic partnership which has lasted over 60 years.”
The government mentioned regional security because Japan has been citing Korea's rules on regulating the weapons trade as its justification for removing Korea from the whitelist, claiming Seoul's regulations are “insufficient.”
“Japan has cited security reasons as its grounds for the revision, which seems to be an evaluation on Korea's contribution to trilateral efforts for regional security, and that is why the government mentioned regional security in the official letter,” said Park Tae-sung, the ministry's director general for international trade.
“Before the letter, the Korean government explained to Japan that its claim was far from factual, especially over weapons regulation, but Japan reiterated its false claim.”
In the letter, the government said the country's regulatory system on weapons trade was internationally acknowledged, and urged Japan to respond to Korea's suggestion for inspections of both countries' trade regulation systems by international organizations, including the United Nations Security Council.
“If Japan removes Korea from its whitelist, it is going against the principles of the WTO and the General Agreement on Tariffs and Trade (GATT), which are aimed at lowering trade barriers and abolishing discriminatory measures,” Minister Sung said. “Japan also should understand the removal is a shortsighted measure which not only affects Korean but also Japanese companies, as well as the global value chain.”
With regard to removing Korea from its whitelist, Japan has been gathering opinions and is expected to approve the plan in a Cabinet meeting this week. The revised rule will go into effect within 21 days if approved.