S. Korea puts Japan back on its preferred trade list after 3 years

South Korea’s trade ministry on Monday put Japan back on a list of countries entitled to preferential treatment for trade after its removal more than three years ago, in a move to improve ties between the two countries.

According to the revision announced by the Trade, Industry and Energy Ministry, Japan is listed back on the “White List,” subjecting companies that export strategic items to Japan to a shorter review period of five days, instead of the previous 15 days, with less paperwork. The change took effect the same day.

Both South Korea and Japan removed each other from their “White List...