Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = The Korean government has decided to resume the World Trade Organization(WTO) dispute settlement process for Japan’s export restrictions on three items.

Na Seung-sik, head of the Trade and Investment Division at the Ministry of Trade, Industry and Energy, said in a briefing on June 2, “The Korean government decided that the current situation would not be seen as a normal process of dialogue, which was originally a condition for the suspension of the WTO dispute settlement process. Therefore, we decided to resume the WTO dispute settlement process for Japan’s export restrictions on three items.”

Accordingly, Korea plans to proceed with future procedures by asking the WTO to set up panels for this matter.

The governments of both Korea and Japan resumed the director-level policy talks to resolve pending export management issues on November 22, last year, and decided to temporarily suspend WTO dispute settlement procedures for Japan’s measures to tighten export regulations on three items, including EUV Photoresist, Polyimide, and Hydrogen Fluoride, while the export management policy talks were in normal progress.

In particular, the Korean government demanded Japan’s answer by May 31, insisting that Japan’s reasons for tightening its export regulations to Korea have been resolved.

However, within the deadline, Japan did not come up with a specific solution, and eventually the Korean government resumed the WTO dispute settlement process.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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