Japan and South Korea almost simultaneously dropped their export claims against each other on Thursday in the latest sign of improving ties.
Japan’s Ministry of Economy, Trade and Industry announced that effective Thursday the country would lift export controls of three key semi-conductor-related materials imposed in 2019 against South Korea, while Seoul said it would drop its complaint with the World Trade Organization over the issue.
Kwon Youngse is in Tokyo for talks with Japanese ministers and top governing party officials, becoming the first unification minister to do so in 18 years. His trip comes on the heels of South Korean President Yoon Suk Yeol’s summit with Japanese Prime Minister Fumio Kishida last week, when they agreed to resume regular visits and launch high-level talks on security, trade and other issues.
At the outset of the talks, Hayashi said last week’s summit was “a great success” and praised Yoon’s leadership toward improving bilateral relations. Hayashi also said he was “delighted to meet with Minister Kwon without delay.” South Korea and Japan have deep economic and cultural ties and are both key U.S. allies. But their relations have often faltered due to disputes stemming from Japan’s 1910-45 colonial rule of the Korean Peninsula.
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