Samsung boss visits Tokyo amid Japan-Korea trade scuffle escalation


Samsung Vice Chairman JY Lee has visited Japan amid escalating tension between South Korea and Japan over the latter’s export ban on key materials that go into semiconductors and displays.

The de facto boss of Samsung Group, which consists of its crown jewel Samsung Electronics, left for Japan on Sunday and will reportedly begin meetings with business leaders there to discuss the issue.

Samsung declined to comment on the matter.

Last month, the Japanese government announced trade restrictions on exporting fluorinated polyimide, resist, and hydrogen fluoride to South Korean companies that came into effect on July 4. Japanese companies exporting those goods need government approval to move them.

The approval process takes 90 days, which will effectively halt imports by South Korea companies such as Samsung, LG, and SK Hynix of the materials for the time being.

See also: Japan to restrict foreign investment for domestic tech and telco companies

Fluorinated polyamide goes into making OLED displays — including the flexible display used for Samsung’s foldable phone the Galaxy Fold — while resist and hydrogen fluoride are key materials for making semiconductor products. 

Japan reportedly controls 90% of the market for two out of the three materials.

Samsung Electronics is the world’s largest memory semiconductor maker, with its chips accounting for some 20% of South Korean exports.

Hong Nam-ki, Minister of Economy and Finance and Deputy Prime Minister of South Korea, said on Monday Japan must revoke the trade restriction as it would negatively affect the global economy.

Samsung’s Lee also met with SoftBank founder Masayoshi Son last week when the latter visited Seoul to propose a investment plan for artificial intelligence where they reportedly also discussed the trade restrictions.


Japan imposes trade restrictions on South Korea for smartphone and chip materials

The Japanese government is also seeking consultation on whether South Korea should be removed from its ‘white country list’.

Japan telcos pull back sale of new Huawei smartphones

Citing consumer safety concerns and uncertainty over Google’s Android support, SoftBank and KDDI have delayed the sale of new handsets from the Chinese vendor, specifically, the Huawei P30 lite, which had been slated to hit the local market on May 24.

SoftBank Group looking to ride AI unicorns into the future

SoftBank Vision Fund was the majority provider of operating income for the Japanese behemoth for fiscal year 2018.

EFF blasts Japan over piracy website blocking proposal

Japan should not introduce piracy website blocking laws in response to copyright infringement, EFF has said, because such a restriction doesn’t work, violates freedom of expression, and ‘breaks the internet’.

South Korean government planning Linux migration as Windows 7 support ends(TechRepublic)

The Interior Ministry is preparing a test deployment to determine compatibility with existing systems ahead of a potential broader deployment across the government.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022
Is The Crypto Market Combating A Lehman Brothers Moment?
June 30, 2022

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin23,831 0.09 % 2.67 % 2.13 %
Ethereum1,771.6 0.52 % 4.30 % 8.29 %
Tether1.001 0.06 % 0.07 % 0.17 %
USD Coin1.001 0.05 % 0.05 % 0.04 %
BNB324.18 0.52 % 0.36 % 14.11 %
XRP0.3780 0.58 % 1.35 % 0.40 %
Cardano0.5308 1.01 % 1.16 % 3.37 %
Binance USD1.001 0.07 % 0.13 % 0.05 %
Solana42.12 0.56 % 2.22 % 3.81 %
Polkadot9.180 2.01 % 5.15 % 12.21 %

Bitcoin (BTC) $ 23,849.00
Ethereum (ETH) $ 1,778.70
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 325.57
XRP (XRP) $ 0.379533
Cardano (ADA) $ 0.535359
Binance USD (BUSD) $ 1.00
Solana (SOL) $ 42.28
Polkadot (DOT) $ 9.32