Fears are growing that a high-tech trade dispute between Japan and South Korea could reduce or delay the global supply of smartphones.
The Japanese move is likely to disrupt supply chains and escalate tensions with South Korea. Tokyo said the decision was taken for national security reasons, but Seoul views it as retaliation.
South Korea has said it will withdraw Japan from its fast-track trade list. The announcement comes after Japan placed export restrictions on South Korea.
Seoul called for the UN or another international body to investigate Japan's claims that some of its exports go to North Korea despite sanctions. Seoul and Tokyo have clashed over compensation to WWII forced laborers.
Companies like Samsung will likely be affected by the new export controls, which followed a series of court rulings demanding that Japan pay compensation to victims of forced labor during WWII.
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