South Korean President Moon Jae-in warned top business leaders of an extended battle with Japan over its export controls on vital manufacturing materials, raising concerns their latest fight could disrupt global supply chains.
On Wednesday, Moon told executives from companies including Samsung Electronics Co., SK Group, Hyundai Motor Co. and Lotte Group, that he saw Japan targeting South Korea's economy for political gains. Japan last week imposed curbs on highly specialized products needed to make semiconductors and computer displays, and could also remove its neighbor from a list of trusted buyers.
"Our government is forming a response system demanding Japan to withdraw its unfair export limit measures with a sense of urgency," Moon said in Seoul, calling the current situation an "unprecedented emergency."