SMEs Brace for Japan's Export Restrictions
03 August, 2019
A sense of crisis is spreading among small and mid-sized companies in Korea due to Korea's removal from a "whitelist" of Japan's preferential trade partners.
The Korea Federation of SMEs surveyed 269 small manufacturing companies last month and found that 53.9 percent hope for a diplomatic resolution to the Seoul-Tokyo row.
One staffer at a small manufacturer said, "Big conglomerates may have the capacity to overcome the crisis, but small businesses will face an immediate crisis in production if Japan restricts exports."
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