World News: 04:47 GMT Friday 2nd August 2019. [Yahoo Business News Feed via SPi World News]
Japan's Cabinet on Friday approved the removal of South Korea from a 'whitelist' of countries with preferential trade status, a move sure to fuel antagonism already at a boiling point over recent export controls and the issue of compensation for wartime Korean laborers. The decision expanding controls over exports of sensitive materials takes effect on Aug. 28. It follows an earlier requirement that Japanese companies' exports to South Korea be approved on a case-by-case basis for three materials used in semiconductors, smartphones and other high-tech devices — South Korea's key exports.
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