South Korean President Moon Jae-in said on Monday that Japan's reported accusations that South Korea has violated international sanctions by exporting banned goods to the Democratic People's Republic of Korea (DPRK) posed a "grave challenge" to Seoul. 

Moon warned at a meeting with senior aides that Japan's recent imposition of curbs on exports of high-tech materials to South Korea would inflict greater damage on the Japanese economy and urged Tokyo to return to talks. 

Japan has tightened restrictions on the export of three materials used in high-tech equipment, citing what Tokyo has called "inadequate management" of sensitive items exported to South Korea. The curbs were seen as a response to South Korean court rulings ordering Japanese companies to compensate wartime forced laborers.

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(Cover: South Korean President Moon Jae-in speaks during a meeting with executives from South Korea's top 30 conglomerates at the Presidential Blue House in Seoul, South Korea, July 10, 2019. /Reuters Photo)