SEOUL, July 4 ― South Korea's trade minister said today Japanese export limits on high-tech materials bound for Seoul would pose a "huge threat” to the global economy and disrupt the global supply chain.

Amid a growing dispute over wartime forced labour between Tokyo and Seoul, Japan on Monday announced stricter restrictions on exports of three materials used in South Korean chips and smartphone displays.

The restrictions take effect today and could slow the export process by several months, affecting South Korean tech giants such as Samsung Electronics Co, SK Hynix Inc and LG Display.

Trade Minister Yoo Myung-hee called for the withdrawal of Japan's latest measures and bilateral talks to discuss the broader issue of export controls, the trade ministry said in a statement. ― Reuters