South Korea said on Monday it plans to drop Japan from its "white list" of countries with fast-track trade status from September, a tit-for-tat move that deepens a diplomatic and trade rift between the two countries. Tighter trade regulations, including potential lengthy permit application processes, will apply to South Korean exports to Japan related to weapons production and machine tools, South Korea's Ministry of Trade, Industry and Energy said in a statement. South Korean Minister of Trade, Industry and Energy Sung Yun-mo said that Seoul's export control of strategic materials will be run to meet the basic ... (full story)