A thorny trade dispute between South Korea and Japan could end up with 'dire consequences' and 'adversely affect companies like Apple, Amazon, Dell, Sony, and billions of consumers all over the world,' official wars.
A thorny trade dispute between South Korea and Japan could end up with"dire consequences" and"adversely affect companies like Apple, Amazon, Dell, Sony, and billions of consumers all over the world," a senior South Korean government official told foreign reporters in Seoul on Wednesday.
David Stilwell, new U.S. Assistant Secretary of State for East Asian and Pacific Affairs, told reporters the U.S."sufficiently understood the seriousness of the issue" and recognized that the two allies of the United States must work together. "U.S. electronics firms, many of which have large production hubs in both the U.S. and China, are vulnerable to supply shortages of South Korean memory chips, given the importance of South Korea as a supplier of chips to both China and the U.S.," Rajiv Biswas, Asia-Pacific chief economist at IHS Markit, told ABC News.
South Korea's Supreme Court ruled last October and November that Nippon Steel & Sumitomo Metal Corp. and Mitsubishi Heavy Industries must compensate Korean victims of wartime forced labor.
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