South Korea formally restored Japan to its list of countries it gives preferential treatment in trade on Monday, three years after the neighbors downgraded each other’s trade status amid a diplomatic row fueled by historical grievances. Know more:
SEOUL, South Korea—South Korea formally restored Japan to its list of countries it gives preferential treatment in trade on Monday, three years after the neighbors downgraded each other’s trade status amid a diplomatic row fueled by historical grievances.
South Korean officials expect Tokyo to restore Seoul as a favored trade partner too, but expect that step to take more time based on the procedures to revise Japan’s export regulations. Yoon’s push to mend ties with Tokyo has triggered criticism from some forced labor victims and from his political rivals. They have called for direct compensation from Japanese companies that employed the forced laborers. But Yoon has defended his decision, saying closer ties with Japan are essential for dealing with a slew of regional challenges, especially North Korea’s growing nuclear threat.
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