SEOUL, Aug. 2 (Xinhua) -- South Korean President Moon Jae-in said Friday that his government will resolutely take corresponding measures against Japan's export curbs, expressing deep regret over the "economic retaliation."
Moon made the remark during an emergency cabinet meeting, convened after Japan's removal of South Korea from its whitelist of trading partners to tighten regulations on its export to South Korea.
The cabinet meeting continued for about one and a half hours. Moon's opening remarks during the cabinet meeting was unusually broadcast live to deliver the government's gesture to the general public, the presidential Blue House said.
"(The removal) is a very reckless decision that rebuffs the diplomatic efforts to resolve the problem and further exacerbates the situation. I express profound regret," Moon said.
Moon warned that the Japanese government will be entirely held accountable for what will unfold going forward, saying Tokyo was responsible for having made the situation worse by ignoring Seoul's efforts to diplomatically resolve the issue.
"The (South) Korean government will resolutely take corresponding measures in response to Japan's unjustifiable economic retaliatory measures," Moon said.
The president said Seoul had countermeasures, noting that the government will step up responses in a phased manner according to the measures taken by the Japanese side.
"The Japanese government's decision is undeniable trade retaliation against our Supreme Court's rulings on Korean victims of forced labor during colonial rule," Moon said.
Japan's export restriction came in protest against the South Korean top court's rulings that ordered some of Japanese companies, including Nippon Steel and Mitsubishi Heavy Industries among others, to compensate the South Korean victims who were forced into hard labor without pay during the 1910-45 Japanese colonization of the Korean Peninsula.
"Japan's action violates such universal human values as the prohibition of forced labor and support for democracy based on separation of powers, as well as broad principles of international law," Moon said.
"The Japanese government, through its action, is refuting the free trade order it championed at the G20 summit," the president said.
Moon said his administration will provide assistance in every possible way to minimize damage to businesses by securing alternative import sources for materials and parts, adopting original technologies, developing technology for localized production and providing financial support to build new factories and expand existing ones.
He noted that his government will use this situation as an opportunity to ensure that South Korea will never again be subjected to technological hegemony by helping raise the competitiveness of the materials and parts industries.
Moon warned that Japan itself will also have to bear significant damage with the export curbs, but he noted that Seoul did not want a vicious cycle of tit-for-tat.
The president urged Japan to revoke its unilateral and unwarranted measures as soon as possible and take a path toward dialogue.
"There are deep wounds between (South) Korea and Japan due to our unfortunate history ... If Japan, the aggressor, reopens the old wounds after so long, an international community aware of the facts will never tolerate it. Japan must squarely face up to this," Moon added.
