Japan says South Korea failed to justify trade restriction

National flags of South Korea and Japan are displayed during a meeting between Komeito Party members and South Korean lawmakers at Komeito Party's headquarters in Tokyo, Japan [Reuters]

Japan hit back at South Korea on Tuesday for removing Tokyo’s fast-track trade status, with the industry minister saying Seoul had failed to explain its reason for the move — the latest in an escalating trade row.

South Korea on Monday signaled plans to remove Japan from a list of countries with fast-track trade status from September, citing problems with export control measures.