As Japan lowers Korea’s trade status, Seoul announces W5tr plan to boost materials capacity
IndustryAug 28, 2019
With the effectuation on Wednesday of a Japanese government resolution effectively downgrading South Korea’s trade status, the Korean government pledged to spend 5 trillion won ($4.1 billion) to increase its own capabilities in the development of key industrial materials. President Moon Jae-in’s office, Moon’s governing Democratic Party and relevant government agencies announced a comprehensive research and development strategy to reduce the country’s reliance on Japane