SEOUL - South Korea's presidential Blue House vowed on Wednesday to take all available measures if Japan continues to worsen their trade row with additional export curbs.

Chung Eui-yong, top national security adviser for South Korean President Moon Jae-in, chaired a meeting of the National Security Council (NSC) standing committee of the Blue House.

During the meeting, the standing committee members vowed to sternly deal with Japan's "unfair" export restrictions and employ all available measures if Japan worsens situations further despite Seoul's efforts to resolve it.

They re-confirmed the need for all diplomatic efforts to encourage Japan to revoke its export curbs.

The meeting came after Japan tightened regulation earlier this month on its export to South Korea of three materials vital to produce memory chips and display panels, which are the mainstay of the South Korean export.

Japan reportedly planned to decide later this week on whether to take South Korea off its whitelist of the preferential procedures for export, a move estimated to have a negative effect on as much as 1,000 items or so in trade between the two countries.

According to local media reports, South Korean Foreign Minister Kang Kyung-wha was scheduled to hold one-on-one talks with her Japanese counterpart Taro Kono on the sidelines of the ASEAN Regional Forum (ARF) in Bangkok, Thailand, later this week.

Meanwhile, the NSC standing committee expressed strong concern about the Democratic People's Republic of Korea (DPRK)'s launch of two "short-range ballistic missiles" earlier in the day.

The committee said the DPRK's missile firings could have a negative effect on efforts to build peace on the Korean Peninsula, instructing the military to closely monitor relevant situations and thoroughly maintain defense posture.

The committee members vowed to continue diplomatic efforts for the resumption of negotiations to denuclearize the peninsula.

According to South Korea's Joint Chiefs of Staff (JCS), the DPRK launched two short-range ballistic missiles off the east coast early in the morning. The missiles flew about 250 km at an altitude of some 30 km.

Pyongyang's new move came less than a week after its firing of two short-range ballistic missiles that were launched off its east coast.