Japan lifts ban on the export of key components to South Korea

Japan has finally lifted the ban on the export of a key microchip component to South Korea.The move comes merely a few days before the leaders of both countries are scheduled to meet for formal talks, which will be a first-of-its kind after nearly a year. Japan had banned three key components in total and prevented their export to South Korea.

The banned component is very important for manufacturing

As per reports from local media, Japan had imposed the restrictions on South Korea and their tech giant Samsung back in July after a series of rulings by the South Korean court that ordered Japan to compensate for wartime forced labour victims. This move by South Korea infuriated Tokyo that defended itself by claiming that the matter had long been settled in a 1965 treaty normalising diplomatic relations between the two countries and included significant reparations.

The news of Tokyo's decision led to South Korea accusing Japan of weaponising trade and threatened to withdraw from key military pacts in retaliation. This declaration by South Korea alarmed the United States that said that any hasty actions will only benefit North Korea and China. South Korea thereafter agreed to extend the pact.

Read: Sonam Kapoor, Vikrant Massey To Headline Hindi Remake Of South Korean Cop Thriller 'Blind'

Read: Rahul Gandhi Meets South Korea PM, Discusses 'political And Economic Situation'

The US special envoy for North Korea Stephen Biegun is on his visit to South Korea. He arrived in South Korea on December 15. The high-level visit is important as Pyongyang increased pressure on Washington in order to come to mutual terms and begin the denuclearization talks before the year-end deadline. Biegun stepped in South Korea, one day after North Korea successfully executed another ‘crucial test’ in order to develop a strategic missile that will prevent North Korea from the nuclear threats of the United States. 

The test was executed at the rocket launch site in North Korea. According to the experts if North Korea continues such tests then it can construct more stable intercontinental ballistic missiles (ICBMs) which will have the capability to reach the United States. During the trip, Biegun is scheduled to meet South Korean President Moon Jae-in on December 16, which is part of his three-day visit. Followed by his visit to Tokyo to meet his Japanese counterpart. However, the visit is still under speculation whether he will meet the North Korean officials at the inter-Korean border. Also, he might try to pave the way for negotiations with North Korea or send a public message

Read: South Korean President And Chinese Foreign Minister Meet In Hopes Of Improving Ties

Read: When Japan Gifted Trendsetting Films To The World; From 'Rashomon' To 'Late Spring'