S. Korea to file WTO complaint over Japan's export curbs on Wednesday - Reuters

Dhwani Mehta FXStreet

South Korean Trade Minister Yoo Myung-hee told a briefing on Wednesday, the South plans to file a complaint over Japan’s tighter export controls at the World Trade Organization (WTO) against Japanese “politically motivated” and “discriminatory”.

Yoo said, “South Korean firms are “faced with serious damage” due to uncertainties over shipments of the three materials - fluorinated polyimides, photoresists and hydrogen fluoride,” per Reuters.

Japan imposed tighter controls on exports of three materials to South Korea following a diplomatic row over compensation for forced laborers during Japan’s occupation of Korea during World War Two.

The spat worsened after Japan removed South Korean from its preferred trade status list.

The risk sentiment remains tepid, with USD/JPY consolidating the recent gains above the 107.50 level, awaiting fresh cues from the ECB and US CPI release.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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