S.Korean political leaders vow to work together to resolve Japan dispute

South Korean Foreign Minister Kang Kyung-wha right shakes hands with David Stilwell U.S Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs during a meeting at the foreign ministry in Seoul South Korea Wednesday

South Korean Foreign Minister Kang Kyung-wha right shakes hands with David Stilwell U.S Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs during a meeting at the foreign ministry in Seoul South Korea Wednesday

It has enabled Seoul and Tokyo to share military intelligence regarding North Korea.

Seoul played up trade diplomacy in hopes to sway global support on its bid to overturn Tokyo's export controls that can impair manufacturing of high-tech exports crucial to Korean economy.

The rate cut, the first since June 2016, underscores the need to help the economy deal with a series of headwinds including a trade tussle between the United States and China, and more recently, its own feud with Japan over the latter's export restrictions. Tokyo has stressed that the controls were not retaliation over the forced-labor dispute. The Japanese government and companies have rejected the ruling, claiming that the 1965 treaty between the governments of Korea and Japan had settled the issue.

President Moon Jae-in has stressed unity and wisdom as South Korea seeks to reduce its trade dependence on Japan in the wake of Tokyo's new export restrictions.

The trade dispute is being noticed in Washington, where the U.S. House of Representatives has passed a resolution highlighting the importance of Japan-South Korea ties. "We would like to keep pressing South Korea to follow the procedure".

South Korea's five political parties have also made a decision to establish a pan-national "emergency cooperation" body, Yonhap reported Thursday.

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This included an actual depiction of suicide which was both extremely graphic and almost three minutes long in total. The series divided opinion in this country about whether it was appropriate for young people .

Japanese Deputy Chief Cabinet Secretary Yasutoshi Nishimura said, "South Korea has until 12 o'clock midnight to accept arbitration, based on its obligation under the bilateral agreement".

KB Securities analyst Kim Dong-won warned there could be effects for other countries across the world. Korea accommodates the world's two largest memory chip makers of Samsung Electronics and SK hynix.

Last year, a Supreme Court of Seoul had ordered two Tokyo's firms to compensate the wartime labourers in a verdict that Japan believed breached global law.

Korea and Japan's historical tensions are rooted in a decades-old wartime disagreement.

Japan's policy to delay the export of key chemicals to South Korea is created to exclusively punish Korean companies. Japan has denied that the two developments are linked. On one hand, the Korean people are justified as Japan's treatment to them during colonization can be characterized as brutal.

South Korea is also bracing for the possibility that Japan will take further steps by removing it from a 27-country "whitelist" receiving preferential treatment in trade. Apologies must be given, and the countries must be able to work together for their futures, especially with China close to both countries' shores.

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