SEOUL - South Korea summoned Japan's ambassador to protest a decision to remove Seoul's fast-track export status, which took effect on Wednesday amid a deepening political and economic feud.
The move, which came into force on Wednesday, prompted South Korea to drop Japan from its favoured trading list and scrap an intelligence-sharing agreement. "Cho pointed out that the measure was clear retaliation for the court ruling and posed a grave challenge that shook the foundation of the two countries' cooperative relations," the ministry said in a statement.
At a separate meeting, the South Korean government also pledged to invest 5 trillion won from 2020-22 to stabilise supply chains in affected sectors of the economy.
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