President Moon Jae-in is set to sit down with the leaders of South Korean conglomerates to discuss Japan’s trade restrictions. 

A Cheong Wa Dae official told reporters Tuesday that 30 firms, each with assets worth 10 trillion won or more, will attend the meeting slated for Wednesday along with four business lobby groups. 

Samsung Electronics Vice Chairman Lee Jae-yong and Lotte Group Chairman Shin Dong-bin will likely miss the meeting due to overseas business trips and instead send their deputies. 

The presidential official said the meeting was arranged to listen to the difficulties the companies face following Japan’s move and to discuss potential countermeasures. 

Raising the Japanese trade curbs on Monday, Moon stressed the government will have no choice but to respond if the measures cause actual damage to South Korean firms, but said he hoped it doesn't come to that. 

Expressing domestic and international concerns about Japan’s move to punish businesses over a non-business-related issue, the president emphasized the need for close communication between the government and the local business community over what he called an “unprecedented emergency.”