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34 conglomerates from South Korea to discuss on Japan's export regulations

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Christian Fernsby ▼ | July 10, 2019
President Moon Jae-in
Asia   President Moon Jae-in

President Moon Jae-in plans to have a group meeting with the heads of more than 30 large conglomerates in South Korea this week to discuss a strategy on Japan's export restrictions, Cheong Wa Dae said Tuesday.

Moon has invited the leaders of 34 firms, whose assets total 10 trillion won (US$8.5 billion) or more, to the session to take place at his office in Seoul on Wednesday morning.

It will be his first group meeting with the nation's business leaders since Jan. 15, when he hosted a similar Cheong Wa Dae event attended by about 130 business figures.

Moon, during the session, will listen to difficulties facing local businesses and exchange opinions on a "realistic method" to respond to Japan's export curbs, a Cheong Wa Dae official said.

Last week, Japan removed simplified procedures for exporting some key industrial materials to South Korea in apparent retaliation against Seoul for its refusal to form an arbitration panel involving a third country on disputes over shared history.

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