SEOUL, Oct. 11 (Korea Bizwire) — Advertisements of Japanese products in South Korea have plummeted following Japan’s export restrictions imposed against South Korea.
Media Audit Korea, a South Korean media management firm, reported that Japanese advertisements in the country’s top four media platforms including television, radio, newspaper, and magazines turned out to have spent 7.2 billion won (US$6 million) in July and August, down by 76 percent since last year.
In contrast to the 9 percent expansion in the overall market for beer advertisement in South Korea, spending for advertising Japanese beer brands including Asahi, Kirin, and Sapporo has dropped by 91 percent, despite the summer sales boost.
Advertising spending among Japanese carmakers dropped by 93 percent since last year after Honda Motor Co. shut down all advertising while Toyota Motor Corp. also drastically reduced its ad spending.
Advertisement in the fashion and beverage sectors has shrunk by 86 percent and 58 percent, respectively. Advertisements for cosmetics and toys have dropped by more than 90 percent each.
None of the Japanese non-banking financial institutions were found to have spent on advertising in July and August.
Advertisements by Japanese film distributors were the most successful among other sectors, shrinking by only 20 percent since last year.
“South Korea’s boycott movement against Japanese products is turning out to be very effective as we can see from the dramatic drops in Japanese advertising throughout all sectors,” said Media Audit Korea.
H. M. Kang (email@example.com)