The ongoing trade dispute between Japan and South Korea has now prompted the two countries to try to woo each other.
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Now, with the ongoing trade war between China and the US, a similar conflict has arisen between Japan and South Korea. In the conflict between the economies of any two countries, one country is trying to hold the other in its grip. Japan is also taking advantage of this to strengthen its position.
In the current reforms, the Japanese government has made it mandatory for companies in its country to obtain government permission if they want to export hydrogen fluoride, photoregisters and fluorinated polyamides to South Korea. All of these components are essential for making phone chips or any electronic device. Now these companies have to go through a period of at least 90 days to get such a license. Earlier, South Korea's name was not included in the list of such mandatory licenses, but now it has been removed from Japan's white list of exporting countries. The decision to remove South Korea from the white list will take effect in August. Delaying or not receiving these materials could have a serious impact on South Korea's economy and industry.
In support of the decision, Tokyo clarified that such devices could also be used to make chemical weapons if they fall into the hands of North Korea, out of concern that we have applied the rule to the exchange of such sensitive items. But even on such a security question, Japan finds it difficult to respond. Given the developments in the last few months, it is safe to say that this decision is rooted in historical events. The main reason behind Japan's decision is that South Korea's workers who worked in Japan's industrial sector during World War II should be compensated by Japan. Japan, on the other hand, believes that all tensions have been resolved under the 1965 agreement. But,
In addition to this, the 'Comfort Woman' debate is also raging. During World War II, South Korean women were forced into prostitution. Tokyo has apologized and Japan has raised $9.4 million to compensate such women. Seoul has refused to accept the funding due to the current tensions, which has further inflamed Tokyo's anger.
The story of how Japan persecuted South Korea during the war is well-known and could lead to renewed conflict. This sense of oppression engenders a sense of extreme nationalism and is gaining more and more support.
The current trade war could hit both countries hard and have long-term consequences. The decision could affect Seoul's GDP, as semiconductor chips account for 25% of Seoul's exports, with a turnover of about $35 billion. This will have a big impact on the business of companies like LG and Samsung in South Korea, but it could also stop Seoul from exporting OLED screens to Japan. This will have an impact on Japan's television set manufacturing industry. This means that no country can achieve any sustainable development economically.
On the other hand, if the tensions continue to rise, the prices of these commodities in the international market are likely to rise. Which could further worsen the already tense economic environment due to the trade war between the US and China. Commenting on the sanctions imposed by Japan, South Korean President Moon Ji-in said such things could affect the "double economic framework and coexistence and interdependence" developed over the past 50 years. This problem can also affect global trade.
Japan and South Korea are both allies of the United States. Although President Trump has not given a measure of inclination to any one country, sources said that Moon has requested Trump to intervene in the matter. This is going to be an extraordinary event for America. Trump will not be able to side with any single country in resolving the dispute over the current developments on the Korean Peninsula issue.
The internal politics of these two countries also play an important role in ensuring that no dispute or solution is found to the dispute between the two countries. Shinzo Abe has won the upper house election on July 21, while Moon is also preparing for the April 2020 election. Therefore, both the leaders are taking care that their image as a weak leader will not be tarnished and they cannot allow anything that will affect the outcome at present. Recent allegations have put security forces on both sides in an aggressive position, which could worsen the situation in the future.
Given the broader regional politics, these tensions between Japan and South Korea could have an impact on the stability of the entire region. Both countries have many common goals and both countries have shared global views. Both nations have close ties with the United States, and a denuclearization of the Korean Peninsula would greatly benefit both nations. Both nations have similar geographical and historical enmities with Beijing. If the dispute between the two countries continues and escalates, China could reap double benefits. This will give China an opportunity to reap future economic benefits and political benefits. The more the region divides, the more China will be helped to expand its own policies and regional dominance over the region.
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