The Japanese government is planning to lift restrictions on exports of key electronics components to South Korea, as part of a deal for the country to withdraw its complaint to the World Trade Organization over the trade dispute, the Yomiuri reported.
(Bloomberg) — The Japanese government is planning to lift restrictions on exports of key electronics components to South Korea, as part of a deal for the country to withdraw its complaint to the World Trade Organization over the trade dispute, the Yomiuri reported.
Both governments are considering the resolution as they near a separate accord to settle a long-running disagreement to resolve compensation for forced labor by Koreans during Japan’s occupation of the country until the end of World War II, the newspaper said Sunday.
The WTO agreed in 2020 to mediate the spat between the countries over Japanese restrictions on three classes of chemicals used in the production of smart-phone displays, TV screens and semiconductors. South Korea called it a “politically motivated” move that hurt South Korean manufacturers such as Samsung Electronics Co. and SK Hynix Inc.
If South Korea announces an acceptable solution over the forced-labor issue, that will smooth the way toward lifting of restrictions and withdrawal of the trade action, the Yomiuri reported, citing unidentified government officials.
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