Announcement of Commentary on the 16th
The Korea International Trade Association (KITA) expressed its welcome regarding Japan's lifting of export restrictions on the so-called three strategic items: high-purity hydrogen fluoride, fluorinated polyimide, and photoresist.
In a statement on the 16th, KITA said, "We evaluate that the lifting of Japan's export restrictions will be a groundbreaking opportunity for the normalization of the strained Korea-Japan economic and trade relations."
President Yoon Suk-yeol, who visited Japan for a 2-day trip, is listening to the national anthems of both countries before the honor guard inspection with Japanese Prime Minister Fumio Kishida at the Prime Minister's Official Residence in Tokyo on the afternoon of the 16th. [Photo by Yonhap News]
KITA stated, "Since Japan implemented export restrictions in 2019, trade between the two countries has sharply declined, and the fragmentation of economic relations has led to increased costs and supply chain instability, making it inevitable for both countries to face weakened industrial competitiveness and expanded management risks for companies. We emphasize that if trade between the two countries recovers in proportion to their economic scale, it is expected not only to promote trade but also to expand mutual investment and technological cooperation in advanced industries such as semiconductors, revitalizing both economies as well as the global economy."
The Korea International Trade Association plans to actively work to expand private channels and create a cooperative ecosystem so that this measure can lead to the restoration of trust between companies in both countries.
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