South Korea's finance minister warned of Counter-measures

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      South Korea's Minister of Planning and Finance, Hong Nanji, warned on Thursday that if Japan maintains long-term restrictions on the export of high-tech materials to its enterprises, South Korea will also directly introduce counter-measures.
"The possibility of a response to Japan cannot be ruled out because it will take a long time for the World Trade Organization (WTO) to reach a final conclusion," Hong Nanji said on radio.
Japan has said it will tighten export restrictions on three high-tech materials used in South Korea's smartphone displays and chips, in connection with the dispute over South Korea's ruling on forced labor recruitment in wartime. Korea has sought to solve this problem through WTO.
Hong also said that the Bank of Korea's Monetary Policy Committee is expected to take into account recent changes in the economic situation when deciding on interest rate policy.


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