Korea: Export and Japan

korea: Japan tightened regulations last month on its export to South Korea of three materials crucial for the production of memory chips and display panels, which are the mainstay of the South Korean export, according to Global Times China. Earlier this month, Japan removed South Korea from its whitelist of trusted trading partners, which are given preferential export procedure. The Ministry of Economy and Finance said on Friday in its monthly economic assessment report, called Green Book, that the uncertainty spread amid the global trade friction in addition to Japan's export restrictions while the global economic slowdown and the chip industry downturn continued. In response, Seoul dropped Tokyo off its whitelist of trusted export partners. South Korea's export kept a downward trend for the eighth consecutive month to July on the global chip industry's downturn and the global trade spat. The ministry said the government will actively support the revitalization of export, investment and consumption by using all available policy measures, while thoroughly managing risks from Japan's export curbs and speeding up the implementation of extra budget. (news.financializer.com). As reported in the news.