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Tuesday, July 23, 2024

Japan ends export curbs on South Korea as relations thaw

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Japan and South Korea have agreed to resolve a long-standing trade dispute that had strained their ties and disrupted global supply chains, especially in the semiconductor industry.

The two countries announced on Thursday that Japan will lift its export restrictions on key chip materials to South Korea, and South Korea will withdraw its complaint at the World Trade Organization (WTO) against Japan.

The deal was reached during a meeting between Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol in Tokyo. Yoon is the first South Korean leader to visit Japan in 12 years.

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