Japanese Beer Exports To South Korea Drop To Zero After Trade Spat
Japanese beer exports to South Korea plunged to zero in October of this year following a trade row between the two nations, according to a BBC report.
Sake exports also declined by 90% and food exports dropped 58.1% during the same period.
The dispute has hit various other industries such as Japanese carmakers and Korean electronics suppliers, the report said.
Last October, Japan exported 800.34m yen (€6.64 million) worth of beer to South Korea, Japanese news agency Kyodo reported.
South Korea, one of the biggest markets for Japanese beer, accounted for almost 60% of its total overseas shipments last year.
The trade dispute between the countries began as a diplomatic feud over compensation for wartime labour.
Japan condemned South Korean court rulings in 2018, ordering Japanese firms to pay compensation to Koreans over forced wartime labour.
According to Japan, the dispute was settled in 1965 when diplomatic ties were normalised between the two countries.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.