Japan placed restrictions on exports to South Korea of materials essential to its semiconductor industry amid an impasse between the two governments over reparations dating from WWII. It's part of a trend among some of the world's most powerful nations.
South Korean merchants trample boxes symboling Japanese products during a rally to denounce Japanese government's decision on restricting exports of semiconductor materials to South Korea, in front of the Japanese embassy in Seoul, South Korea on July 5.The conflict between neighbors Japan and South Korea started long before anyone was concerned about the semiconductor industry.
South Korea’s top court ruled in October that the laborers’ lawsuits for compensation from Japanese firms could go forward and cleared the way for victims to go after the companies’ assets in South Korea. South Korean officials say they cannot interfere with the decision of its judiciary.
Japanese authorities have insisted the trade curbs are not connected to historical issues but rather to concern that South Korea does not have appropriate controls for the materials, which can be used in weapons of mass destruction. The trade war may soon become much broader: Japan says it intends to remove South Korea from its list of trusted trading partners by month’s end, affecting a whole host of industries including autos and agriculture.That in turn raises concern that the globe’s interconnected supply chain is being held hostage in a time of rising protectionism and nationalism.
“They’re not doing this because they’re wanting to punish the South Koreans. They want to get the South Koreans’ attention,” Glosserman said.
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