“We thought setting things right was more important than caring about our profit,” a South Korean store manager said
By Timothy W. Martin and Na-Young Kim July 18, 2019 10:46 am ET SEOUL—At the 365 Fresh Mart store here, a shopping basket is stuffed with bundles of shrink-wrapped Japanese Seven Stars cigarettes barred from sale. South Korean domestic beers occupy refrigerated shelves once dominated by Asahi and Sapporo. Laminated signs strewn across the store explain the new product mix.
The U.S. has kept relatively quiet on the matter. But on a visit to Seoul on Wednesday, David Stilwell, the top U.S. diplomat for East Asian affairs, said Washington would “do what it can” to help patch up the frayed relationship between its two allies. Tokyo-based Uniqlo has attracted extra scrutiny following remarks made last week by Takeshi Okazaki, Fast Retailing’s chief financial officer, who acknowledged South Korean sales had fallen but added that he didn’t expect a long-lasting impact. South Korean media seized on his comments this week.
Tokyo officials have suggested the moves are justified for national-security reasons, accusing South Korean of not doing enough to ensure Japanese-produced chemicals and equipment can’t be shipped on to help rogue nations build weapons. One of Mr. Abe’s closest aides named North Korea as a possible destination.
It’s a “lose-lose game” for South Korea and Japan, said brokerage CLSA, which added that this is likely the first time the dispute has drifted into bilateral economic relations. Economists have suggested that the Abe administration’s trade curbs could also ultimately hurt Japanese companies that rely on South Korea’s memory chips and displays.
The picture is very different in South Korea. Shopping at a Seoul grocery store on Thursday, Kwon Bong-chun, 82, admitted he gets upset whenever he sees a Japanese product. “I feel bitter,” Mr. Kwon said. “We shouldn’t use Japanese products if we can.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boycott of Everything Japanese Mushrooms Across South KoreaWhat began as an obscure, tech-supply trade fight between Tokyo and Seoul has erupted into a boycott mushrooming across South Korea, a backlash targeting Japanese apparel, travel and electronics.
Read more »
Japan to summon South Korea envoy over World War Two labourer rowJapanese Foreign Minister Taro Kono plans to summon South Korea's ambassado...
Read more »
Japan to summon South Korea envoy over World War Two labourer rowSouth Korea’s Supreme Court last year ordered two Japanese companies to compensate the wartime workers in a ruling that Tokyo said violated international law. Japan believes the issue of compensation was settled under a 1965 treaty.
Read more »
South Korea-Japan trade fight risks 'further escalation'As the trade battle between South Korea and Japan drags on, Seoul announced it will cut down its economic dependence on Japanese industries.
Read more »
Trade dispute between South Korea and Japan could lead to 'dire consequences'A thorny trade dispute between South Korea and Japan could end up with 'dire consequences' and 'adversely affect companies like Apple, Amazon, Dell, Sony, and billions of consumers all over the world,' official wars.
Read more »
A trade dispute between Japan and South Korea has Trumpian echoesA trade brawl between Japan and South Korea has the potential to be as damaging as any that Donald Trump has stirred up
Read more »