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Wednesday, November 7, 2018 

Japanís government is said to be preparing to take legal action over Seoul in the dispute over alleged shipbuilding subsidies.

Japanese authorities have requested further talks with South Korea and are calling for a resolution based on World Trade Organisation rules. A ruling back in 2014 decided that South Korean government subsidies to private shipbuilders were not in themselves a violation of WTO rules, but Japan claims the subsidies are unfair because of the price pressure exerted upon Japanese shipbuilders. The Japanese government says South Korea has provided a total of US$ 11 billion of assistance to companies like Daewoo Shipbuilding & Marine Engineering.

"We have conveyed concerns to South Korea that [the subsidies] could distort the market, but there have been no moves to correct the practice," said transport minister Keiichi Ishii (pictured). An official ministry statement said the South Korean government has repeatedly denied allegations of "market distortion."

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