Officials from S. Korea and Japan sit down for talks over Tokyo's trade restrictions

한일 무역수출규제 첫 실무협의 종료The first working-level talks between South Korea and Japan over Tokyo's export curbs on high-tech materials to Seoul took place on Friday.We connect to our business correspondent Hyesung Kim on the line.So Hyesung, what was the agenda and how did the meeting go?Daniel, the meeting started at 2PM at Tokyo's Ministry of Economy, Trade and Industry and lasted for around six hours.This was in fact the first meeting between South Korean and Japanese officials since Tokyo's trade restrictions went into effect last week.Two working-level officials from Seoul's Ministry of Trade, Industry and Energy and two Japanese counterparts sat down for talks.Seoul's trade ministry said it expressed concerns that Tokyo's trade restricions on three key high-tech materials that are used to produce chips and displays by South Korean companies, adding that it could negatively affect the global value chain.Tokyo said its export curbs do not violate WTO rules, saying it imposed the export curbs due to Seoul's lack of export control on key strategic items including hydrogen fluoride.It said it found cases of improper shipments, though it did not elaborate nor give further detail on that statement, and did not say specifically say it was exported to North Korea, as some Japanese media had reported.South Korea said its export control on strategic items is actually tighter than Japan.Take a listen to Lee Ho-hyeon, Director General for International Trade Policy at Korea's trade ministry."South Korea's export control on strategic items is stronger than that of Japan.Japan's move of strengthening export control, imposing restrictions just three days after an announcement that was based in no prior consultation with Seoul is improper. A review period of 90 days is concerning. The time period is uncertain, and has an issue of transparency."South Korea said it has proposed more talks with Japan on Tokyo's export restrictions of certain high-tech materials by July 24...as Japan's' is reviewing a list of new restrictions, and is set to make its decision on removing South Korea from its export white list , which givescountries preferential treatment on trade,...by then.Back to you Daniel.