Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

South Korea to restore Japan’s trade status to improve ties

AP
Updated: March 21st, 2023, 14:52 IST
in International
0
South Korea to restore Japan's trade status to improve ties

Pic- AP news

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Seoul: South Korean President Yoon Suk Yeol said Tuesday his government will move to restore Japan’s preferential trade status as he pushes to resolve history and trade disputes with Japan despite domestic opposition.

In lengthy, televised comments during a Cabinet Council meeting, Yoon defended his moves, saying that leaving ties with Japan as fraught as they are would be neglecting his duty because greater bilateral cooperation is vital to resolve diverse challenges facing Seoul.

Also Read

Claudia Sheinbaum elected first woman President of Mexico

Mexico calls US tariff hike unjust, seeks resolution through direct negotiations

7 hours ago
EAM Jaishankar

Jaishankar to tour Singapore, China from Sunday

18 hours ago

“I thought it would be like neglecting my duty as president if I had also incited hostile nationalism and anti-Japan sentiments to use them for domestic politics while leaving behind the current, grave international political situation,” Yoon said.

He said the need to boost ties with Japan has grown because of North Korea’s advancing nuclear program, the intensifying US-China strategic rivalry and global supply chain challenges.

South Korea and Japan have deep economic and cultural ties and are both key U.S. Allies that together host about 80,000 US Troops. But their relations have often fluctuated mainly due to issues stemming from Japan’s 1910-45 colonial rule of the Korean Peninsula.

At the centre of the recent impasse was the 2018 South Korean court rulings that ordered two Japanese companies to compensate some of their former Korean employees for forced labour during Japan’s colonial rule of the Korean Peninsula. Japan refused to accept the rulings, saying all compensation issues had already been settled when the two countries normalized ties in 1965.

The history disputes spilled over to other issues, with the two countries downgrading each other’s trade status. Japan also tightened controls on exports to South Korea, while Seoul threatened to terminate a military intelligence-sharing pact.

After months of negotiations with Japan, Yoon’s government earlier this month announced it would use local funds to compensate the forced labourer victims involved in the 2018 lawsuits without requiring contributions from the Japanese companies.

Last week, Yoon travelled to Tokyo for a summit with Japanese Prime Minister Fumio Kishida, during which they agreed to resume regular visits and economic security talks.

Ahead of the summit, the South Korean government said Japan had agreed to lift export controls on South Korea, and that South Korea would also withdraw its complaint to the World Trade Organization once the curbs are removed. They said the two countries would continue talks on restoring each other’s trade status as well.

Yoon’s push has triggered protests from some of the forced labour victims, their supporters and opposition political parties who have demanded direct compensation from the Japanese companies and a direct apology from Tokyo over the forced labour. A public survey suggested about 60% of Koreans opposed Yoon’s measures to resolve the forced labour issue.

In his, Cabinet Council remarks, Yoon said he will order his trade minister to begin taking legal steps needed to re-include Japan in a “white list” of nations receiving preferential trade status.

He said both South Korea and Japan must remove obstacles that hinder the improvement of bilateral ties. “If South Korea pre-emptively eliminates obstacles, Japan will surely reciprocate,” he said.

AP

Tags: JapanSouth Korea
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019

Archives

Editorial

Socialist Democrat

Aakar Patel
July 13, 2025

One of the most remarkable democratic developments of recent times came from New York City this month. A 33-year-old man...

Read more

Tripura’s IAS Exodus

July 12, 2025

It’s hard not to see the flight of over a dozen IAS officers from Tripura’s cadre as a crypto-threshold moment....

Read more

Toll Sucks Life

Nitin Gadkari
July 9, 2025

Union Road Transport and Highways Minister Nitin Gadkari took everyone by surprise when at a function in Nagpur, where the...

Read more

Bloodline

BJP-Shiv Sena
July 8, 2025

The coming together of the Thackeray cousins – Raj Thackeray, chief of the Maharashtra Navnirman Sena (MNS) and Shiv Sena...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST