Japan to reinstate South Korea as preferred trade nation from July 21 as two sides improve ties

By MARI YAMAGUCHI
Associated Press

TOKYO (AP) — Japan announced Tuesday a decision to reinstate South Korea as a preferred nation with fast-track trade status from July 21, virtually ending a four-year economic row that was strained during their bitter historic disputes. Japan and South Korea have been rapidly mending their ties as they deepen three-way security cooperation with Washington in response to growing regional threats from North Korea and China. Their trade dispute began in July 2019 when Japan removed South Korea from its “white list” of countries given fast-track approvals in trade. At that time, Tokyo-Seoul ties were deteriorating over compensation for Japanese wartime actions.