Seoul, Jan 8 (SocialNews.XYZ) China's recent ban on exports of dual-use items with military applications to Japan will likely impact South Korea's imports and industries, the industry ministry said on Thursday, vowing measures to prevent a supply shortage of affected items.
The Ministry of Trade, Industry and Resources held a supply chain inspection meeting with relevant ministries and industrial associations Thursday to assess the impact of China's latest decision, reports Yonhap news agency.
On Tuesday, China's Ministry of Commerce announced an immediate ban on exports of all dual-use items with potential military applications to Japan, citing national security concerns.
Dual-use items refer to goods, software and technologies that are intended for legitimate civilian applications but may also be repurposed for military use.
The ministry noted that China's move was not directed toward Korea but is expected to have a broad impact across domestic industries as the three countries' supply chains are interconnected.
The government will closely communicate with private industries to prevent China's fresh export curb from creating a supply shortage of industrial materials in Korea, the ministry added.
"We will thoroughly manage the supply and demand of such items, while keeping all possibilities open to ensure there are no disruptions to production activities of our industries and companies," Vice Industry Minister Moon Shin-hak said in a press release.
Meanwhile, the government will work to expand communications with the United States to prevent potential conflict over South Korea's revision of its network law, the trade ministry said on Thursday.
Last week, the U.S. State Department expressed "significant" concerns over a recently passed revision to Korea's Information and Communications Network Act aimed at addressing false and fabricated online information, raising concerns the issue might stir trade conflict between the two countries.
To prevent potential conflict, the Ministry of Trade, Industry and Resources decided during a trade strategy meeting to enforce outreach efforts to the U.S. to minimise conflict over non-tariff trade barrier issues.
In the meeting, the ministry also discussed a response strategy to trade protectionist policies by Korea's trade partners, including stronger steel safeguard measures by the European Union and Canada, as well as Mexico's tariff hike plan.
—IANS
na/
Source: IANS
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