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    Question

    Which of the following statements is true about the

    trade status of Japan and South Korea? I.   South Korea recently added Japan to its list of countries receiving fast - track approvals in trade . II. Japan and South Korea currently have no preferential trade agreement . III. South Korea downgraded Japan's trade status in 2019 due to historical grievances .
    A Only I Correct Answer Incorrect Answer
    B Only III Correct Answer Incorrect Answer
    C Only II and III Correct Answer Incorrect Answer
    D Only I and III Correct Answer Incorrect Answer
    E All I,II and III Correct Answer Incorrect Answer

    Solution

    South Korea formally restored Japan to its list of countries it gives preferential treatment in trade, three years after the neighbours downgraded each other's trade status amid a diplomatic row fuelled by historical grievances . In September 2019, South Korea dropped Japan from its white list of countries receiving fast - track approvals in trade, reacting to a similar move by Tokyo . About South Korea Capital : Seoul                                                Currency : Korean Republic won About Japan Capital : Tokyo                                              Currency : Japanese yen

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