South Korea pursues diplomacy in settling trade disputes with Japan

(VOVWORLD) - South Korean President Moon Jae-in on Tuesday vowed to pursue diplomatic solutions to the trade disputes between South Korea and Japan in order to minimize losses for Korean businesses and people. 

The South Korean President expressed disappointment regarding Japan’s removal of South Korea from its preferred trade partners list. He said Seoul will continue in its efforts to seek a diplomatic solution while mitigating any ill-effects of the dispute on Korean businesses and people.

On the same day, Japanese Minister of Economy, Trade and Industry Hiroshige Seko said Seoul has failed to explain its reasoning for removing Tokyo’s fast-track trade status.