{"id":2200427,"date":"2023-03-17T08:00:37","date_gmt":"2023-03-16T23:00:37","guid":{"rendered":"https:\/\/koreapro.org\/?p=2200427"},"modified":"2023-04-05T16:07:55","modified_gmt":"2023-04-05T07:07:55","slug":"immediate-results-of-the-south-korea-japan-summit","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/03\/immediate-results-of-the-south-korea-japan-summit\/","title":{"rendered":"Immediate results of the South Korea-Japan summit"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Japanese government <\/span><a href=\"https:\/\/www.yna.co.kr\/view\/AKR20230316122753003?input=tw\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> Thursday it will lift its export restrictions on three critical semiconductor materials \u2014 hydrogen fluoride, fluorinated polyimide and photoresist \u2014 to South Korea. In response, the South Korean government <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20230316005451320?section=economy-finance\/economy\"><span style=\"font-weight: 400;\">withdrew<\/span><\/a><span style=\"font-weight: 400;\"> its complaint to the World Trade Organization (WTO) against Japan\u2019s export measures. Officials from both countries also discussed measures to restore South Korea to Japan\u2019s export whitelist. The export whitelist refers to a list of preferred trading partners. Countries on this list are exempted from additional export procedures for all products.<\/span><\/p>\n<p>President Yoon Suk-yeol also said during a press briefing with Japanese Prime Minister Fumio Kishida that they had agreed to completely normalize the General Security of Military Information Agreement (GSOMIA), a military intelligence-sharing pact, which the previous Moon administration threatened to suspend in 2019 in protest of Tokyo&#8217;s export restrictions against Seoul.<\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The resumption of Japanese exports of hydrogen fluoride, fluorinated polyimide and photoresist will help to stabilize South Korea\u2019s supply chains, as Japan produces about 90% of fluorinated polyimide and photoresist and about 70% of hydrogen fluoride in the global market. South Korea\u2019s semiconductor industry has faced headwinds in the past year due to falling global demands and the <\/span><a href=\"https:\/\/koreapro.org\/2023\/03\/why-south-korea-is-grumbling-about-new-us-chip-restrictions-on-china\/\"><span style=\"font-weight: 400;\">U.S. CHIPS Act<\/span><\/a><span style=\"font-weight: 400;\">. Normalized trade between the two countries will also help to develop trust, which had been at an all-time low since Seoul and Tokyo normalized relations in 1965.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The normalization of GSOMIA could also theoretically allow Seoul and Tokyo to respond more effectively to North Korean nuclear and missile tests. Improved relations between the two East Asian countries could also lead to closer trilateral cooperation between Washington, Seoul and Tokyo, which could have long-term geopolitical implications. Pyongyang expressed its displeasure with a missile test before Yoon&#8217;s departure to Tokyo. Increased cooperation among the three countries could also elicit suspicions from Beijing, as it could increase the probability of the three countries decoupling from China in strategic industries, such as semiconductors.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>The Japanese government announced Thursday it will lift its export restrictions on three critical semiconductor materials \u2014 hydrogen fluoride, fluorinated polyimide and photoresist \u2014 to South Korea. In response, the South Korean government withdrew its complaint to the World Trade Organization (WTO) against Japan\u2019s export measures. Officials from both countries also discussed measures to restore [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2200432,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2200427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Immediate results of the South Korea-Japan summit - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/03\/immediate-results-of-the-south-korea-japan-summit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Immediate results of the South Korea-Japan summit - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"The Japanese government announced Thursday it will lift its export restrictions on three critical semiconductor materials \u2014 hydrogen fluoride, fluorinated polyimide and photoresist \u2014 to South Korea. 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