S. Korea revokes Japan's status as preferred trade partner

South Korea, in a tit-for-tat move, revoked Japan's preferential trade partner status starting Wednesday, citing displeasure with the neighboring country's export control regime.The Trade, Industry and Energy Ministry, in a statement, said Japan will henceforth be among countries that face some limitations when importing strategic materials from South Korea.The ministry said a public opinion survey conducted between Aug. 14 and Sept. 3 showed that 91 percent of respondents found revocation to be reasonable."The government will make sure that South Korean companies would experience as minima…READ FULL ARTICLE