The government predicted that it would take at least two months for both Korea and Japan to restore the measures to exclude them from the white list.
Ahn Deok-geun, head of the Trade Negotiation Headquarters of the Ministry of Trade, Industry and Energy, held a meeting with reporters at the Sejong Government Complex on the 20th and said, “Korea needs to revise the notification on the import and export of strategic materials, and Japan also needs to revise the ordinance corresponding to the presidential decree of our country.” Revision only requires about two months of physical time,” he said. Ahn added, “We will restore the white list as soon as possible and use it as a stepping stone to restore trust and cooperate.”
Previously, at the Korea-Japan summit held on the 16th, the two countries normalized the Military Information Security Agreement (GSOMIA), lifted export restrictions applied to three semiconductor materials, and ) agreed to withdraw the complaint and restore the whitelist.
Regarding the stipulation in the Core Raw Materials Act recently announced by the European Union (EU) that it will periodically conduct supply chain audits for large corporations in the region, Director Ahn said, “This means that companies conduct their own audits and report to their board of directors.” We will continue to monitor the impact.”
Director Ahn announced that he plans to dispatch the 2nd Shuttle Economic Cooperation Group during the second quarter (April to June) of this year to promote the ongoing cooperation project with the United Arab Emirates (UAE). The first government-corporate shuttle economic cooperation team, which visited Dubai, UAE on the 15th and 16th of this month, signed a contract worth $2 billion (approximately KRW 2.622 trillion) and five tasks at a business round table attended by high-ranking officials and companies from both countries. signed an MOU.
Eleven domestic small and medium-sized enterprises (SMEs) also pushed ahead with contracts for cooperation projects worth about USD 9.3 million in one-on-one business consultations between UAE buyers and investors. This is more than double the government’s initial estimate of $5 million. Director Ahn said, “We are planning to dispatch the Shuttle Economic Cooperation Group up to the 4th round.” suggested,” he added.
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.