South Korea reinstated Japan to its list of preferred trading partners on April 24, marking a step toward improving relations three years after they downgraded each other’s trading status over historical disputes.
The South Korean Ministry of Trade, Industry, and Energy said Japan’s return to South Korea’s “white list” of preferred trading partners will shorten the review period for exporting strategic materials to Japan from 15 to five days.
The number of documents required for such exports will also be simplified from five to three, according to the ministry’s public notice. The change took effect on the same day….