Seoul: South Korea will halt a World Trade Organization (WTO) dispute resolution process sparked by a complaint against Japan as the two countries discuss Japan’s export curbs on high-tech materials to South Korea, the two countries’ trade ministries said on Monday.
In 2019, Japan imposed export curbs on high-tech materials used in smartphone displays and chips amid a decades-old row with Seoul about South Koreans who said they were forced to work for Japanese firms during World War Two.
South Korean tech firms such as Samsung Electronics Co Ltd, SK Hynix Inc and LG Display Co Ltd were among companies widely expected to be affected by the curbs.
The impact of the curbs was limited as the companies found import routes through other countries, worked to diversify sourcing – including investing in local materials firms – and some Japanese firms set up production in South Korea, analysts said.
(Reporting by Joyce Lee and Heekyong Yang; Editing by Kim Coghill and Christopher Cushing)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
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