Japanese Firms Exit South Korea Amid Prolonged Anti-Japan Movement

The boycott movement is still going strong, a year later.

It has been about a year since a nation-wide boycott movement toward Japanese products began in South Korea, triggered by a trade war between the two countries.
Contrary to some predictions that the boycott would not last long, it shows no sign of waning. Cars from Japan accounted for 10.6 percent of all South Korean car imports in February, but that share had dropped to just 5.5 percent in April. In addition, imports of almost all items, including Japanese motorcycles, ballpoint pens, golf clubs, toys, cosmetics, and fishing gear, plummeted.
However, it is evident that the company’s sales have been hit hard by the anti-Japan movement, too.
Even Olympus, a Japanese camera brand that has been hugely popular in South Korea, also closed its business in the country for the first time in more than two decades.

This article was written by Tae-jun Kang

To read the full article, please click on the following link: https://thediplomat.com/2020/07/japanese-firms-exit-south-korea-amid-prolonged-anti-japan-movement/