S. Korea's English proficiency slips 13 notches to 49th
N. Korea reinstates DMZ guard posts
N. Korea says spy satellite took photos of White House, Pentagon, key US naval base
15-year-old girl saves 5 lives with organ donations after death
BOK likely to keep policy rate unchanged on slowdown, hope for Fed's rate freeze, easing inflation
Samsung sets up control tower for new growth drivers
12 foreigners nabbed on suspicion of drug use
Korea to start hiring E-9 visa foreign workers in restaurants
S. Korea's Busan making last-ditch efforts to bring World Expo on voting day
[KH explains] Hyundai to sell vehicles on Amazon in US sales push
South Korea, Japan hold in-depth talks to strengthen bilateral tradeBy Jo He-rim
Published : June 30, 2023 - 14:40
South Korean Trade Minister Ahn Duk-geun discussed measures to strengthen bilateral trade with his Japanese counterpart Hirohide Hirai during his visit to Seoul on Friday.
The bilateral talk comes as Japan has announced to reinstate South Korea as a "Group A" country earlier this week, returning to Seoul the preferential export treatment it had enjoyed until 2019. The latest decision marked the end to a trade dispute that had dragged on for four years stemming from the issue ofKoreans who performed forced labor during Japan's 1910-45 colonial rule of the peninsula.
Ahn met with Japanese Vice Minister of International Affairs Hirohide and discussed ways to implement followup measures to the summit held between the leaders of their respective countries.
In their latest summit held in Seoul in May, South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida reaffirmed their commitment to improve bilateral trade and work together to establish partnerships in various industrial fields, including energy and steel.
"I would like to express my welcome to Hirai, who is vising Seoul on a meaningful day when the two countries have fully restored trust in regard to exports," Ahn said.
"Let's work closely together to speed up implementing the followup measures of the Korea-Japan summit."
The two sides also discussed ways to strengthen cooperation in the multilateral initiatives they have both joined, such as the US-led Indo-Pacific Economic Framework, as well as in digital economy.
The Japanese government has announced to partially revise the Export Trade Control Order based on the Foreign Exchange and Foreign Trade Act to add South Korea to the whitelist, according to the Japanese ministry.
The amendment was promulgated Friday, and will come into force from July 21. The latest measure would reduce the time and procedures it takes for Japanese companies to export strategic materials to Korea, from the current two to three months to about a week.
Busan loses World Expo 2030 bid
Korea, Japan, China summit likely in early 2024
Yoon orders increased defense of public digital infrastructure