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SITUATION REPORTAug 28, 2019 | 20:21 GMT
Japan, South Korea: Trade Restrictions Take Effect, Seoul Announces Funds for Indigenous Development
Japan's removal of South Korea from its "white list" of export controls took effect Aug. 28, Reuters reported. Meanwhile, South Korea announced $4.1 billion in government funds to shore up key supplies and spur the indigenous development of equipment for industrial sectors impacted by Japan's trade restrictions.
SITUATION REPORTJul 11, 2019 | 16:24 GMT
South Korea: Democratic Party Reportedly Mulls Plan on Wartime Compensation Claims
South Korea's ruling Democratic Party is reportedly considering a plan to fulfill demands for compensation by wartime laborers that includes the allocation of government funds for future claims and the creation of a joint South Korean-Japanese fund to pay out claims awarded since 2018, Reuters reported July 10.
SITUATION REPORTJul 1, 2019 | 19:30 GMT
Japan, South Korea: Japanese Export Restrictions Take Aim at South Korean Semiconductor Industry
Japan, reacting to the damaged "relations of trust" following a South Korean court ruling mandating that Japanese companies pay compensation for claims of forced labor stemming from World War II, said it would restrict the export of chemicals vital to South Korea's semiconductor and smartphone industries, Nikkei Asian Review reported June 30.
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