SEOUL, Aug. 2 (Korea Bizwire) — Japanese fashion brand Uniqlo, which has been hit the hardest by the boycott triggered by Japan’s export restrictions to South Korea, will begin the process of shuttering its branch in Jongno 3-ga.
The five-story building in central Seoul, where the branch is located, had a large “for rent” sign hanging on it Thursday.
“The contract expires in October of this year, and Uniqlo has decided not to renew it,” said the real estate agency that manages the property.
The agency added that the owner of the building decided to put the store up for rent as the conditions between the building owner and Uniqlo were not met.
Uniqlo, however, said that the closure of the Jongno 3-ga store was unrelated to the ongoing boycott.
“We understand that the real estate contract expired, which was scheduled to happen regardless of the boycott.” said a representative for Uniqlo.
“We cannot comment on the issue of moving the store because it is an internal matter.”
If the Jongno 3-ga store closes, it will mark the first store closure since the boycott of Japanese goods began.
Meanwhile, Uniqlo in Guro, which is currently operating in AK Plaza, is also going to shut down after August 31.
This is due to the closure of the department store, but there are reportedly no plans to relocate the store elsewhere.
H. M. Kang (email@example.com)