Japan to restore preferred trade status for South Korea

By MARI YAMAGUCHI
Associated Press

TOKYO (AP) — Japan’s trade ministry says it has begun procedures to restore preferential trade status for South Korea, days after Seoul took a similar step for Tokyo and requested reciprocity, and more than three years after the countries downgraded each other during a bitter historical dispute. The step would end a trade dispute that began when Japan removed South Korea from its list of countries given fast-track approvals in trade, in apparent retaliation for South Korean court rulings that ordered Japanese companies to compensate Korean workers for forced labor during World War II. Seoul and Tokyo have been working to repair their ties as they deepen three-way security cooperation with Washington in response to growing regional threats from North Korea and China.