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Pres. Moon vows to take countermeasures when Korean businesses face harm

Pres. Moon vows to take countermeasures when Korean businesses face harm

Posted July. 09, 2019 07:43,   

Updated July. 09, 2019 07:43


Korean President Moon Jae-in said on Monday that it would be inevitable for the Korean government to respond, if necessary, if Korean businesses face practical harm, calling for Japan’s withdrawal of the export limit on Korea and sincere discussion between Korea and Japan. His message intends to warn Japan of Seoul’s possible countermeasures in case of any damage to Korean companies while calling on Japan to cancel its trade restrictions on Korea.

The Korean president told the meeting with his aides on he day that Japan’s recent export restriction against Korea would lead to disruptions in production lines of Korean companies and threaten the world’s supply networks. Moon delivered a message regarding Japan one week after Japan’s Ministry of Economy, Trade and Industry announced its export controls on the transfer of certain technologies to Korea.

The president pointed out that both Korea and the international community are concerned that Japan attempts to restrain mutually-beneficial business transactions for political purpose. He said that he hoped Japan to go back to the principle of free trade as it has practiced so far.

While warning about a situation of tit for tat, President Moon said that he would hope it not to happen, adding that it is not desirable to be trapped in a vicious cycle of retaliation and recrimination. He also remarked that Korea would make sure to resolve the issue diplomatically. Asked about any possibility of Japan’s further measures, Moon said that an emergency response system between the private and public sectors could be reviewed if necessary.