South Korea's finance minister on Monday pressed Japan to withdraw its export restrictions on key semiconductor materials as the Japanese move could have a negative impact on the global economy.
Chung Hung Steel Corp (中鴻鋼鐵), which makes steel coils and pipes, said that US levies of up to 456 percent on steel imports from Vietnam have had a limited effect on the company and Vietnam would remain its largest overseas market this year.
South Korea warned Thursday of "corresponding measures" against Japan's move to restrict key supplies for the nation's semiconductor industry and renewed its pledge to develop home-grown materials, in a major escalation of a long-simmering row over compensation for wartime forced labor.
The freshly-signed EU-Vietnam Free Trade Agreement (EVFTA) will help the Vietnamese steel sector expand export markets in Europe, industry insiders said.