Japan decides to revoke S. Korea's preferential trade status

Japan decided Friday to revoke from later this month South Korea's preferential status as a trade partner for the purchase of goods that can be diverted for military use due to what it says are security concerns, igniting angry protests from Seoul.The Cabinet of Prime Minister Shinzo Abe approved plans to remove South Korea from a "white list" of countries subject to simplified trade procedures, raising the stakes in a bitter diplomatic row between the neighbors that concerns wartime history as well as trade policy.South Korea reacted sharply to the decision, with President Moon Jae In deno…READ FULL ARTICLE