Uniqlo, Nissan expected to suffer further in South Korea
Japan’s opposition to South Korea’s access to the Group of Seven is expected to strengthen the latter’s boycott of the former’s brands, which started a year ago.
Japanese media outlets, including Kyodo News, reported Saturday that Tokyo recently lobbied Washington to prevent Seoul from joining the G7, the idea of U.S. President Donald Trump.
After postponing the G7 summit initially scheduled in June to September, Trump said in late May that he would like to invite such new countries as South Korea, Australia, India, and Russia.
Japan’s message is feared to exacerbate its already strained relationship with South Korea, which has staged a boycott of made-in-Japan products over the past full year.
“Japan’s move would be sure to cause South Korea’s hostilities to rise, strengthening anti-Japanese sentiments. The boycott of Japanese products is expected to continue,” Prof. Kim Pill-soo at Daelim University told UPI News Korea.
Following years of diplomatic conflicts, Tokyo announced last July its intention to impose curbs on exports to Seoul of high-tech materials used to make memory chips, South Korea’s top export item.
The measure led to a nationwide boycott against Japanese products and services. Uniqlo became one of the major targets after its CFO said the boycott “will not last long.”
The clothing brand’s income here contracted by a big margin last year, and its struggle continues into this year as South Korean consumers keep avoiding it.
Due in no small part to the boycott, Japanese automaker Nissan Motor even decided this May to withdraw from Korea as its 2020 sales more than halved from a year ago.
UPI News Korea provides this article. _ ED.