SEOUL, Aug. 5 (Korea Bizwire) — As the boycott movement against Japanese goods and services ensues, 7-Eleven is sending out letters to franchise owners in South Korea to argue that the company is “not a Japanese brand.” Korea Seven Co., which runs 7-Eleven convenience stores in South Korea, sent out emergency letters to 9,700 franchise [...]
SEOUL, Aug. 5 (Korea Bizwire) — Imported vehicle sales in South Korea fell 5.2 percent in July due to a slump in sales of Japanese vehicles amid trade tensions with Japan, industry data showed Wednesday. The number of newly registered foreign vehicles stood at 19,453 last month, down from 20,518 a year earlier, according to [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea’s financial watchdog said Monday it has found no indications of unusual behavior among Japanese investors in the South Korean capital market despite an escalating bilateral trade row. The neighboring countries have been locked in a trade dispute since Tokyo imposed curbs on exports of high-tech materials to [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea said Monday it will spend 7.8 trillion won (US$6.47 billion) over the next five years to nurture its materials, parts and equipment sectors and trim its dependence on Japanese imports in the latest move to cope with the neighbor’s economic retaliation. The move to boost R&D for [...]
BERLIN/TOKYO, Aug. 4 (Korea Bizwire) — Japan has allegedly pressured a German museum to remove a statue of a girl representing victims of Japan’s World War II-era sexual slavery from display, a South Korean civic group said Sunday amid escalating political and trade tensions between the two neighboring countries. According to Korea Verband, a nonprofit [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea is considering carrying out a combined maritime defense drill on and around its easternmost islets of Dokdo as early as this month, military and government sources said Sunday. The military exercise, if conducted, would come amid an escalating row with Japan over shared history that has spilled [...]
SEOUL, Aug. 3 (Korea Bizwire) — Thousands of South Korean demonstrators staged a rally on Saturday for the third straight weekly demonstration to censure Japanese Prime Minister Shinzo Abe for expanding trade curbs against Seoul, demanding Abe apologize for Tokyo’s wartime forced labor. “Apologize!” shouted the protesters in front of the Japanese Embassy in Seoul, [...]
NAGOYA, Aug. 3 (Korea Bizwire) — A statue of a girl representing victims of Japan’s World War II-era sexual slavery, which has been on display at an international arts festival in Aichi Prefecture, central Japan, was ordered by Japanese officials to be removed, the festival’s organizers said Saturday. The statue, which symbolizes Korean women who [...]
SEOUL, Aug. 2 (Korea Bizwire) — The prolonged boycott movement against Japanese goods and services is leading South Korean agencies to give out discount benefits to travelers who are cancelling trips to foreign countries, including Japan. The Gyeongju World Culture Expo Foundation will offer a 50 percent discount for the Summer Pool Festival: Hot Summer [...]
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 [...]