Seoul summoned Japan’s ambassador to protest a decision to remove South Korea’s fast-track export status, which took effect on Wednesday amid a deepening political and economic feud.
Japan dropped South Korea from its “white list” of favored trade partners this month, which could mean more paperwork and on-site inspections for some Japanese exporters and potentially slow supplies of a range of goods, Reuters reported.
South Korean Deputy National Security Advisor Kim Hyun-chong said it was deeply regrettable that Japan’s decision to scrap the export status has taken effect. The move prompted South Korea to drop Japan from its favored trading list and scrap an intelligence-sharing agreement.
Seoul would be willing to reconsider its decision to end the intelligence-sharing pact if Tokyo corrected its “unjust measures,” Kim said.