Japan’s government is attempting to stop South Korean shipbuilders cutting prices to loss-making levels by questioning the legality of its state-run bank’s refund guarantees on such orders under World Trade Organisation (WTO) rules.
Tokyo-based shipbuilding civil servants are calling on their counterparts in Seoul to stop state-backed banks issuing refund guarantees for loss making orders, claiming they fall foul of international anti-dumping and subsidy regulations.
