South Korea blasts Japan's economic war amid deepening trade dispute

South Korea has blasted Japan as "selfish nuisance" after Tokyo removed Seoul from its list of top trading partners, amid an escalating trade dispute linked to persisting historical tensions.

"We won't be defeated by Japan again," said South Korean President Moon Jae-in during a rare live television broadcast of his cabinet meeting.

Moon further threatened countermeasures against Tokyo after the cabinet of Japan’s Prime Minister Shinzo Abe approved the removal of South Korea’s fast-track export status effective late August.

Dropping Seoul from a so-called "white list" of favored export destinations would mean that some Japanese exporters must complete more paperwork and on-site inspections to secure permits.

Effective August 28, Japanese companies would have to obtain government authorization in order to ship goods to South Korea that may have military applications.

President Moon warning that the move could adversely affect the global economy. Earlier, a South Korean presidential spokesperson promised a “resolute” response to Japan’s decision.

The development came after Japan restricted last month exports of a number of vital, high-technology materials to South Korea.

The materials are used to manufacture semiconductors and parts for electronic products that are critical to South Korea’s export-fueled economy.

Ties between Washington’s top two East Asian allies began to deteriorate late last year following a spat over compensation for wartime forced laborers during Japan's colonization of the Korean Peninsula prior to World War II.

SS