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Japan to tighten export rules for tech materials to South Korea amid wartime labor row


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Stock Markets57 minutes ago (Jun 30, 2019 09:20PM ET)

© Reuters.  Japan to tighten export rules for tech materials to South Korea amid wartime labor row© Reuters. Japan to tighten export rules for tech materials to South Korea amid wartime labor row

TOKYO (Reuters) - Japan will tighten restrictions on the export of high-tech materials used in smartphone displays and chips to South Korea in connection with a dispute over a South Korean ruling on war-time forced labor, the industry ministry said on Monday.

Tighter export controls, effective from July 4, would slow the export process, potentially affecting South Korean tech giants such as Samsung Electronics (KS:), SK Hynix (KS:) and LG Electronics (KS:).

The measure comes as Japan has grown frustrated with what it sees as a lack of action by Seoul to address issues related to the top court ruling last October, which ordered Nippon Steel (T:) to compensate for forced labor during World War Two.

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