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S Korea urges Japan to correct 'reckless, risky' export curb
SOUTH Korean Prime Minister Lee Nak-yon on Sunday urged Japan to correct its "reckless and risky" decision to curb exports to the country, saying that the international community is concerned about security in Northeast Asia after the latest developments.
Japan is carrying out an "economic attack" against South Korea after deliberately dismissing diplomatic discussions with the country as well as arbitration by the US, Mr Lee said. He was speaking at a high-level meeting with South Korea's presidential office, government officials and ruling party lawmakers to discuss countermeasures to Japan's export restrictions.
Tensions between the two nations worsened last week as Japan removed South Korea from a list of trusted export destinations, in a move that will hit the chip and display industries that are the backbones of the South Korean economy.
South Korea has responded by saying it will take Japan off its preferred-trade list.
Prime Minister Lee reiterated that the government will support local businesses so that they can break away from their dependency on Japan. BLOOMBERG