Chief Negotiator: "It Will Take Two Months to Restore Japan's White List"

The government expects that it will take at least two months for South Korea and Japan to restore the 'white list' (a list of white countries that receive simplified export procedures) to its original state.

On the 20th, Ahn Deok-geun, Director General of Trade Negotiations at the Ministry of Trade, Industry and Energy, stated at a briefing with the press corps at the Government Complex Sejong, "Our country needs to revise the strategic goods export-import notice, and Japan also needs to revise the ordinance equivalent to our presidential decree." Director Ahn explained, "It will take about two months just for the physical administrative procedures for both countries to revise the notice through public hearings, etc. We will restore the white list as soon as possible to rebuild trust between the two countries and use it as a foundation for cooperation."

Anduk Geun, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy, is delivering opening remarks at the 'Export Situation Review Meeting' held on the 1st at the Korea Trade Insurance Corporation in Jongno-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Regarding the recent announcement by the European Union (EU) of the Critical Raw Materials Act, which stipulates that supply chain audits will be conducted periodically on large companies within the region, he said, "It means that companies will conduct audits themselves and report to each company's board of directors." Director Ahn emphasized, "The government has submitted three opinions to the EU and formed an EU trade issue task force, creating four working groups for each issue to communicate. Since it will take 1 to 2 years to complete the legislation, rather than raising issues prematurely, we will consult through various channels such as the Korea-EU Joint Committee."

Director Ahn also announced plans to dispatch the 2nd shuttle economic cooperation group in the second quarter to promote ongoing cooperation projects with the United Arab Emirates (UAE). The 1st government and corporate joint shuttle economic cooperation group, led by Director Ahn, visited Dubai, UAE on the 15th and 16th, where six contracts and memorandums of understanding (MOUs) worth $2 billion were signed at a business roundtable attended by senior officials and companies from both countries. The shuttle economic cooperation group included 34 companies from sectors such as nuclear power, plants and equipment, new industries, defense, agriculture and fisheries, and cultural contents.

Director Ahn explained, "We plan to dispatch the shuttle economic cooperation group up to the 4th round," adding, "We proposed to promote a substantive Digital and Bio Economic Partnership Agreement (EPA) based on the Trade and Investment Promotion Framework (TIPF) signed at the last summit."