S.Korean president urges Japan to retract export curbs, launch consultation

Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in

In the first five months, the number of Koreans who traveled to Japan declined 4.7 percent year-over-year to 3.25 million from the same period last year, the Korea Tourism Organization said in a statement.

The export curbs highlight how Japan, the world's third-largest economy, continues to hold sway over a vital corner of the global supply chain.

The row between the US allies flared last October when South Korea's Supreme Court ruled that Japan's Nippon Steel (5401.T) must compensate South Koreans for forced labor during World War Two.

South Korea and Japan are close economic partners and key allies of the United States, though they have always been in conflict over territory and other historical disputes.

Analysts say the measure won't have a meaningful impact immediately on South Korean companies like Samsung Electronics and SK Hynix Inc., which both have sufficient supplies of the materials for now, given the slowdown in demand for semiconductors.

Amid intensifying fears over Japan's retaliatory moves against Korea, leaders of major South Korean conglomerates were invited to a private meeting with top policymakers on Sunday to discuss countermeasures, according to reports.

India to closely monitor shadow lending sector: Sitharaman
This is because some of the banks and NBFCs are laden with bad debt which has affected their ability to lend. RBI would also be the regulator for the housing NBFCs.

Moon said he would prioritize development of home-grown high-tech equipment and materials and South Korea would improve the trade deficit with Japan in the long term.

Speaking to reporters on Friday, the chairman of South Korea's Financial Services Commission was asked if the dispute could affect investments and loans by Japanese institutions.

Japan also plans another round of export curbs for South Korea that could target a broader range of items applicable to weapons production, including machine tools, the government says.

Fluorine polyimide is used to make flexible organic light-emitting diode displays, and photoresist is a thin layer used to transfer a circuit pattern to a semiconductor substrate.

The neighbors share a bitter history dating to the Japanese colonization of the Korean peninsula from 1910 to 1945, including forced use of labor by Japanese companies and the use of comfort women, a euphemism for girls and women, many of them Korean, forced to work in its wartime brothels.

Related News:

Most liked

Mariah Carey takes the Bottle Cap Challenge to a whole new level
Bieber made a huge flip as he completed the challenge in slo-mo and oh god, he was fantastic at it. Android & IOS users, download our mobile app for faster than ever Bollywood & Box Office updates!

Barty shocked at Wimbledon by soon-to-be-wed Riske
Ashleigh Barty's Wimbledon charge has come to a shuddering halt at the hands of free-swinging American Alison Riske . I was sticking to how I wanted to play", Barty said. "It's a tough one to swallow but I lost to a better player".

Deutsche Bank starts cutting London jobs with 18,000 at risk worldwide
Deutsche Bank officials had previously denied reports they had planned further United States restructuring measures. A man holds bags and suit carriers as he leaves the offices of Deutsche Bank AG in London, U.K., on Monday, July 8.

Mulan Teaser Trailer #1 (2020) | Movieclips Trailers
When does this live-action adaptation premiere ? Until then, you can listen to "I'll Make A Man Out Of You" on repeat right here . Mulan looks upset but is outwardly submissive as she replies: 'Yes, I will bring honor to us all'.

Meghan and Harry's Baby Archie Becomes a Christian in Private Christening
Archie, who was born in May, wore a handmade replica of the royal christening robe created by the Queen's dressmaker Angela Kelly. This happens to be royal baby Archie's first pictures in which the seventh-in-the-line to the throne is wide awake and attentive.

Italy's Prosecco hills join UNESCO World Heritage list
Many inscriptions written by soldiers can still be seen on the ancient bricks. More sites will be named over the weekend.

Scotland Yard questioned Kevin Spacey over assault claims
Spacey still faces a criminal charge over the alleged incident and pleaded not guilty to indecent assault and battery in January. The most novel model emerged a day after a one who claimed Spacey groped him within the U.S. in 2016 dropped his civil case .

On Venezuelan independence day, Maduro calls for dialog as Guaido slams 'dictatorship'
But Maduro retains the recognition of Cuba, Russia and China, and remains in control of state functions and the armed forces. He calls Guaido a US-backed puppet seeking to oust him in a coup.

Father of Bossa Nova dies at the age of 88 years old
The album's global success would bring Gilberto to the United States and Mexico, where he lived throughout the 1960s and '70s. João sang the lyrics in Portuguese, Astrud repeated them in English and Getz added an now-iconic tenor sax solo.

Newcomers share top spot at 3M
Wiesberger birdied three of his last six holes as he earned a spot at this year's Open Championship courtesy of a top-10 finish. Morikawa had his opportunity to force a playoff with Wolff, but his 22-foot eagle-putt attempt faded left 3 feet past the hole.

USA's Jill Ellis becomes first coach to win two titles
Soccer President Carlos Cordeiro. "It's probably my mom FaceTiming me", Ellis said as she pulled her phone out of her pocket. When you are behind, you need to work harder to get it equal. "I love being underdogs", Van de Donk told reporters.

Crusaders control pressure on Jaguares to seal Super Rugby title
It also stretched their competition-record winning streak in Christchurch to 31 games. Note: Super 12 from 1996-2005, Super 14 from 2006-10, Super 15 from 2011-13.

Deutsche Bank to slash 18000 jobs in reshuffle
Media reports had suggested that Deutsche Bank could cut as many as 20,000 jobs - more than one in five of its 91,500 employees. On Friday, Garth Ritchie, the head of Deutsche's South African investment banking unit, was first out of the door.

Infantino Hails France 2019 Women’s World Cup, Plans Tournament Expansion
Much has been made of this World Cup having a similar impact on Europe as the 1999 tournament did on the US , who won it as hosts. In England , Manchester United's promotion to the Women's Super League (WSL) can only help grow its profile.

Greek elections: New Democracy 'on course for majority'
DiEM25 of ex-Finance Minister Yanis Varoufakis is on 3.2 percent, while the new right-wing Greek Solution party is on 3 percent. Voting ends at 7.00 pm (1600 GMT), with the first official projections expected about two hours after voting ends.