trending Market Intelligence /marketintelligence/en/news-insights/trending/oQYr03Nmpt98h3P3Uie1TQ2 content esgSubNav
In This List

Japan removes South Korea from favored trade partner list

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Japan removes South Korea from favored trade partner list

Japan's revocation of South Korea's status as a favored trading partner officially took effect Aug. 28, following the government's approval earlier this month, Kyodo News reported.

The measure removes South Korea's minimum export control privileges with Japan and authorizes the Ministry of Economy, Trade and Industry to screen and approve goods before they can be exported. Twenty-six countries remain on Japan's so-called white list.

Tensions between the two Asian neighbors have intensified in recent months amid a dispute over a court case involving compensation for forced labor during World War II.

Last week, South Korea decided to terminate its military intelligence-sharing pact with Japan, according to Kyodo News.