SEOUL, July 31 (Korea Bizwire) — Japanese fashion retailer Uniqlo said Friday it will close nine of its stores in South Korea next month amid a sharp fall in sales stemming from the new coronavirus outbreak and a trade dispute between Seoul and Tokyo. The closure came as online shopping has gained traction amid the [...]
SEOUL, July 30 (Korea Bizwire) — Despite the boycott movement against Japanese products marking its first year after being sparked by Japan’s export restrictions against South Korea, consumption of Japanese cigarettes has remained more or less unaffected. The Korea Customs Service reported that South Korea imported 4,220.6 tons of cigarettes from the Philippines between July [...]
SEOUL, July 27 (Korea Bizwire) — The South Korean economy’s dependence on Japan has been on a downward trend since Japan imposed export restrictions against South Korea in July 2019, the country’s leading business lobby group said Sunday. The share of imports from Japan among overall South Korean imports fell from 9.8 percent in Q1 [...]
SEOUL, July 5 (Korea Bizwire) — Japanese consumer goods producers in South Korea saw their operating profits plunge by more than 70 percent on-year in 2019, data showed Sunday, due to the prolonged trade dispute between the two neighbors that led to a boycott against Japanese products here. The combined operating profit of 31 Japanese [...]
SEOUL, July 3 (Korea Bizwire) — The ‘No Japan’ boycott movement against Japanese products that broke out last July after Japan imposed export restrictions on South Korea has had a serious impact on last year’s imported beer market. The Korea Agro-Fisheries & Food Trade Corp. reported Thursday that the retail market for beer in the [...]
SEOUL, July 1 (Korea Bizwire) — South Korean university students and civic groups declared a boycott of the movie “Mulan” on Wednesday in support of the democracy protests in Hong Kong. Several student and civic groups held a rally in front of Walt Disney Co. Korea in southern Seoul, asking the company to scrap its [...]
SEOUL, May 25 (Korea Bizwire) — Uniqlo’s budget brand GU, which has been hit hard by the coronavirus pandemic and a boycott of Japan in place since last summer, will withdraw from South Korea. FRL Korea Co., an operator of Uniqlo Korea, recently announced that GU will stop operating offline stores in the country around [...]
SEOUL, May 24 (Korea Bizwire) — South Korea’s imports of consumer goods from Japan plunged 37 percent in April from a year earlier due to Japan’s export curbs and the new coronavirus impact on consumer spending, government data showed Sunday. The value of imported Japanese consumer goods fell on-year to US$249 million last month as [...]
SEOUL, April 8 (Korea Bizwire) — Experts are anticipating layoffs at the South Korean unit of Japanese fashion retailer Uniqlo, which has been hit hard by last year’s national boycott movement against Japanese products. Chief executive of FRL Korea, an operator of Uniqlo Korea, recently mentioned the term ‘restructuring’ in an email. The email written [...]
SEOUL, Feb. 28 (Korea Bizwire) — The Japanese beer industry, which has nothing to do with the Japanese government’s restrictions on exports of semiconductor materials to South Korea, has almost completely lost its foothold in the Korean market. According to the monthly trade statistics released Thursday by Japan’s Ministry of Finance, beer exports to South [...]