South Korea and Japan jointly discussed the issue of trade protectionism and overproduction in the steel industry
On the November 6, according to Korean media report that South Korea’s Ministry of Industry, Trade and Industry and Japan’s Ministry of Economy, Trade and Industry representatives held in Seoul “the 18th Korea-Japan Iron and Steel Area Civil Services Conference.”
It is learned that more than 60 relevant persons from the governments, associations and industry of the two countries, represented by the chief of industry and Commerce Ministry of Resources Iron and Steel Chemical Section, Japan’s Ministry of Economy, Metal Technology Room Director, attending the meeting.
At the meeting, participants from both countries exchanged views on the bilateral steel industry trends, the global glut and the deepening of trade protectionism.
Reportedly, South Korea deeply worried about the recent anti-dumping measures taken by the United States on imported steel products and suggested that Japan should jointly take countermeasures.
Both parties believe that the root cause of the rise of trade protectionism lies in the overproduction of global steel products and the two sides will continue to maintain their cooperative relations through the global forum aimed at solving the problem of excess steel.
In order to overcome the problem of global overproduction in the future and avoid trade frictions, the representatives of South Korea and Japan said they will seek a solution through dialogue.