Seoul, April 28 (SocialNews.XYZ) Japan began domestic procedures on Friday to return South Korea to its "white list" of trusted trading partners, in a move to improve bilateral economic relationship, Seoul's industry ministry said.
Japan began canvassing public opinion on redesignating South Korea as a "Group A," or white list nation, that would give Seoul preferential export treatment, the Ministry of Trade, Industry and Energy said, citing a statement issued by the Japanese trade ministry, Yonhap news agency reported.
Tokyo downgraded South Korea to "Group B" in 2019 after imposing export restrictions on three key industry materials, in an apparent retaliation against the South Korean Supreme Court rulings the previous year that ordered two Japanese companies to pay compensation to Korean forced labour victims during Japan's 1910-45 colonial rule of the Korean Peninsula.
But the two sides last month vowed the reinstatement after South Korea announced plans to compensate the victims without asking Japan for contributions, and South Korea put Japan back on its white list earlier this week.
Japan lifted the export curbs after President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida held a bilateral summit, and agreed to make joint efforts to better bilateral ties long marred by historic and diplomatic rows stemming from the colonial rule.
"South Korea welcomes Japan's move and hopes for the swift conclusion of the procedures," the Seoul ministry said in a release.
Source: IANS
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