TOKYO/SEOUL (Reuters) – Japan will tighten curbs on exports of high-tech materials used in smartphone displays and chips to South Korea amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two, the industry ministry said on Monday, prompting condemnation from Seoul.
Tighter export controls, to become effective on Thursday, would slow the export process by several months, hitting South Korean tech giants, such as Samsung Electronics (005930.KS), SK Hynix (000660.KS) and LG Display (034220.KS).
The step comes amid Tokyo’s growing frustration at what it calls a lack of action by Seoul over issues stemming from its top court ruling last October that ordered Nippon Steel (5401.T) to compensate former forced laborers.
South Korea’s industry minister, Sung Yun-mo, said: “We will take necessary countermeasures including filing a complaint to the (World Trade Organization).”
“Our government expressed deep regret” over Japan’s tightening…
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