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South Korea may use countermeasures to Japan’s export limits

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South Korea may decide to retaliate against the latest export limits from Japan on high-tech materials.

Japan and South Korea are in a political dispute over forced wartime labor, and this has effected the decision on exports.

“Implementing corresponding measures against Japan cannot be ruled out,” said Finance Minister Hong Nam-ki, adding it would take a long time for a World Trade Organization ruling on the dispute.

Hong said that the trade row could cause “unfortunate damage to both Korean and Japanese economies”.

The limits on exports of three materials used in South Korean technology manufacture announced by Japan will disrupt the global supply chain, South Korea’s trade minister said.