South Korea Aiming to Boost Production to Decrease Reliance on Japan Trade

South Korea is trying to increase domestic production of “key materials and parts” to reduce its reliance on trade with Japan, according to an Aug. 9 South Korea Ministry of Trade press release. Sung Yun-mo, South Korea’s Minister of Trade, Industry and Energy, met with state-run research institutions on Aug. 8 at the Korea Institute of Chemical Technology to discuss how the country can increase production. The meeting comes amid a trade dispute between Japan and South Korea in which Japan announced export restrictions on three chemicals used for the manufacturing of smart chips and other technologies.