Japan's new Prime Minister Yoshihide Suga on Thursday held his first telephone call with his South Korean counterpart since taking office, telling President Moon Jae-in that the neighbors should work to resolve their strained relations. | KYODO NEWS, By Keita Nakamura, Digital Editor. South Korea moved to cancel a intelligence-sharing pact with Japan brokered by the U.S., only to withdraw the threat after Abe agreed to open discussions on their trade dispute. South Korea had asked for the telephone call, Japan said. Japan insists that all compensation matters were settled under a 1965 treaty. Suga Belatedly Replies to Moon's Congratulations, Moon Calls for National Unity to Overcome Coronavirus outbreak. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". On Oct. 30, 2018, the Supreme Court ordered Nippon Steel & Sumitomo Metal to pay W100 million each to four Koreans who were forced to labor for it during World War II (US$1=W1,169). | KYODO NEWS, Oct 14, 2020 We believe in free, fair and credible journalism. ), Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Sponsored contents planned and edited by JT Media Enterprise Division. | KYODO NEWS, Sep 23, 2020 KYODO NEWS Before it's here, it's on the Bloomberg Terminal. Last Updated at September 24, 2020 12:20 IST. Japan unveils new submarine in face of China's growing assertiveness, Supercomputer-developed face shields may offer lifeline for Japan's restaurant industry, Once-fearsome ozeki rank no longer sport's 'great barrier', Coronavirus reinfections are real but very, very rare, [VIDEO] What’s the problem with vote-by-mail? Kyodo News quoted a Japanese Foreign Ministry official as saying late last month that it "makes no sense" for the leader of Japan to visit Korea when the prospect of selling the Nippon Steel shares remains a strong possibility. Yoshihide Suga /Yonhap On Oct. 30, 2018, the Supreme Court ordered Nippon Steel & Sumitomo Metal to pay W100 million each to four Koreans … Prime Minister Yoshihide Suga will not visit South Korea without a guarantee that assets seized from a Japanese company following a South Korean court ruling on compensation for wartime labor will not be liquidated, a senior Foreign Ministry official said Wednesday. The plaintiffs applied in May the same year to have the shares sold off. Japan would “continue to firmly seek appropriate action from South Korea”, he said, without elaborating. The disputes led to street protests in Seoul, where anti-Abe signs were often held aloft. The call between Suga and South Korean President Moon Jae-In provided an opportunity for the two neighbors to rebuild trust after a long-simmering feud over historical issues boiled over into a trade war last year. He appeared to indicate Japan's position on the compensation was unchanged and he put the burden of easing tensions on South Korea. Japan argues the court decision goes against a 1965 agreement between the neighboring countries under which it provided South Korea with financial aid on the understanding that the compensation issue was settled "completely and finally. - Suga, who made few forays into diplomacy when he served as Abe’s right-hand man, hasn’t yet attracted the same type of animosity as his hawkish boss. Japan's Foreign Ministry has already informed the Korean government. Kato later told a briefing that it would be a serious problem if South Korean courts liquidated the assets of Japanese firms in the country to settle the compensation cases. Assets held by Nippon Steel in South Korea have been seized and could be liquidated “any day now,” the official said, adding that Foreign Minister Toshimitsu Motegi has warned his South Korean counterpart Kang Kyung-wha multiple times that this would do “irreparable” damage to bilateral ties. Please check your inbox for a confirmation email. South Korea's Supreme Court in 2018 ordered Japanese companies to compensate the aging Korean plaintiffs. A diplomatic source in Tokyo said, "Prime Minister Suga is afraid of the backlash among his support base if Japanese corporate assets are sold in the early stage of his tenure. Japan argues the court decision goes against a 1965 agreement between the neighboring countries under which it provided South Korea with financial aid on the understanding that the compensation issue was settled “completely and finally.”, Last week, Suga spoke with South Korean President Moon Jae-in by phone for the first time since taking office in mid-September and said the leaders “cannot allow our relations to remain as they are.”. The Bloomberg Terminal in May the same year to have the shares sold off asked for telephone... Where anti-Abe signs were often held aloft Supreme Court in 2018 ordered Japanese companies to compensate the aging plaintiffs! 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