South Korea’s President Moon Jae-in is meeting with the heads of South Korea’s biggest conglomerates and business associations on Wednesday.

The meeting followed Japan’s surprise move last week when it slapped export restrictions on three products critical for manufacturing semiconductors and displays, essentially the backbone of South Korean exports.

As CGTN’s Jack Barton reports, the latest spat could disrupt global supply chains.

Moon’s government has labelled the restrictions “vengeful” retaliation for a supreme court ruling last year, ordering some Japanese firms to pay compensation to Koreans forced into labor during Japan’s colonial occupation of the peninsula.

The dispute has sparked protests in South Korea amid public calls for a boycott of goods and tourism to Japan.

Seoul says it’s seeking an economic, not an emotional response.