Now, Japan has decided to recoup and respond to competitors, and Tokyo’s response can inflict a devastating blow on South Korean high-tech companies and force them to significantly reduce the scale of production of their products.
Since July 4, Japan has tightened the procedure for exporting nanomaterials to the Republic of Korea. In particular, we are talking about fluorinated polyimide, resistors and hydrogen fluoride, which are used in the manufacture of smartphones and other high-tech products.
Japanese exporters will now have to submit applications and wait 90 days for their consideration. It will not be easy for South Korea to make up for the shortage of these materials, as 90% of their world market is controlled by Japan.
What is the reason for this decision of Tokyo? In fact, the beginning trade war between the two Asian countries is an echo of events almost a century ago. Recently, the Supreme Court of the Republic of Korea ordered the Japanese company Nippon Steel & Sumitomo Metal to pay compensation for the use of slave labor by Koreans at a time when the Korean Peninsula was occupied by the Japanese in the first half of the XNUMXth century. The same requirements may apply to other Japanese companies, including Mitsubishi. And so Japan, angry at the decision of the Korean court, strikes back.