business

S Korean boycott hitting sales of Uniqlo, company says

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And across the Sea of Japan, Japanese people continue to eagerly consume Korean foods and buy Korean products.

Quite easy to see which side is more mature and sensible.

2 ( +12 / -10 )

At its earnings news conference on July 11, the Uniqlo owner’s chief financial officer Takeshi Okazaki said he “thinks” that the impact of a boycott of Japanese goods wouldn’t last long.

What a mature and sensible thing to say as a CFO!

I happened to pass by one of their stores in a busy mall in Seoul. Believe me, it felt like a hazard zone. People avoided it as a plague.

3 ( +3 / -0 )

"I happened to pass by one of their stores in a busy mall in Seoul. Believe me, it felt like a hazard zone. People avoided it as a plague."

But go into any Uniqlo anywhere else and its packed with people. I went to a Uniqlo in Singapore and it was jam with people.

0 ( +7 / -7 )

But go into any Uniqlo anywhere else and its packed with people. I went to a Uniqlo in Singapore and it was jam with people.

So you visited a Uniqlo in Singapore and assumed all stores across the world were the same?

3 ( +6 / -3 )

It looks like S Koreans are also going to boycott 2020 Tokyo Olympics for sure. Maybe they would have to do it as long as strong boycotting is going on there for years. As for me I don't care.

3 ( +3 / -0 )

*And across the Sea of Japan, Japanese people continue to eagerly consume Korean foods and buy Korean products.*

Yes, the boycott only applies in South Korea. In the US, a lot of Japanese restaurants are run by Korean Americans. I don't see them abandoning their businesses since sushi places seem to be more profitable than Korean barbecue restaurants. As, for Korean American barbecue...they never stopped serving US beef even when there were large protests in Seoul to boycott US "mad cow" beef. I was told by Korean Americans, that only mattered in South Korea and it had more to do with anti-American sentiment....

5 ( +6 / -1 )

Clearly the Korean people are avoiding Japanese products (beer, clothing, ...)

It is a simple economic rule that this loss of turnover will not be recouped elsewhere. Therefore it will mean lesser job development or job losses in Japan.

It seems that some don't care, but that might be different for the ones that loose their job an need to pay their loans here.

For sure there is something to say about the court ruling, but than again courts rule independently from governement. And governement needs to protect the courts rulings in any democratic country. And Japanese government is not well placed to protest on this given their continuous influence on matters of justice.

(Curious to see how many down votes I get from the right wingers this time :-)

2 ( +6 / -4 )

Ohhhhhhh???? Well how did anyone not see this coming? Is reality starting to sink in? Where's the 'does no wrong' crowd to somehow epinnthie development into something 'positive'?

 than again courts rule independently from governement. And governement needs to protect the courts rulings in any democratic country. 

Japan isn't a true democracy so this fact is lost on most. Hence the downvotes.

2 ( +5 / -3 )

I've heard most S Koreans don't want to boycott good things (in their mind) but they can't stop boycotting it anyway. If they refuse, they will be blamed by violence or in SNS. This seems a Korean democracy.

-2 ( +5 / -7 )

 This seems a Korean democracy.

Nope. Just more spin from individuals that have no grasp of what true freedom of expression is.

0 ( +3 / -3 )

Revenue is revenue, yet 6 % is nothing to global earnings. I would be curious to see the relation of sales volume to revenue in the country.

I'm assuming that the reason for the low revenue is actually due to the cost of having 190 physical stores in the country.

I’m also assuming that the reason for 190 stores, was to maximize brand awareness and getting as much of the local populace involved in the supply chains in an attempt for brand loyalty.

So, the next step will probably be to start layoffs and closing down stores to offset the loss, which is unfortunate, due to high unemployment rate.

6 percent is nothing in scale to 190 stores, this is a lot of employed people and a lot money going into local distribution and the attached services and can actually be assumed this will have a significant impact on the country’s GDP.

Further, other foreign brands are watching closely and will face a decision whether to limit exposure to the market due to K. nationalism and the gov's inability to protect industry assets.

With high unemployment and loss of capital, the people of SK will be the real losers if Uniqlo actually ends up closing down stores.

I wonder how the SK gov. is going frame the flight of foreign capital as they watch their GDP numbers run lower and unemployment #s run higher.

0 ( +2 / -2 )

Question: Was this company founded during this said occupation? Because from what i've heard it had been founded in 1949, two years after the Empire of Japan was dissolved and only starting franchising in March 1984.

This store generated 360 billion won per year at their 65 stores in Korea by 2011 so how does this association fallacy based boycott not hurt the Korean economy?

2 ( +2 / -0 )

Japan has clothing, auto parts, electronic, video games, and other stores in S Korea. A lot of them use S Korean materials, market S Korean products, and employ S Korean people. Certainly boycotts will hurt Japan and stores will eventually go elsewhere, which will also hurt Korea. Meanwhile, Japanese stores that move will be successful elsewhere, while Korea will be have fewer products and higher unemployment. Is all of this really helpful for anybody?

1 ( +1 / -0 )

Easy Solution, close the stores and lay off the employees.

1 ( +1 / -0 )

Jimizo

So you visited a Uniqlo in Singapore and assumed all stores across the world were the same?

The one I went to yesterday sure was. And the one last week.

2 ( +2 / -0 )

jam with people

I mean.

1 ( +1 / -0 )

@Farmboy

Is all of this really helpful for anybody?

It doesn't matter at all. All are symbolic and ritual.

-2 ( +0 / -2 )

Japan isn't a true democracy so this fact is lost on most. Hence the downvotes.

In what sense is Japan not a true democracy?

As a general principle treaty obligations trump domestic law. Because compensation to forced laborers was covered by the 1965 treaty, Korean courts should not be ruling on this issue.

If the forced laborers are unhappy, they should be challenging the Korean government. It is the Korean government that bears responsibility for the treaty with Japan and what was done with the money Korea received from Japan.

2 ( +3 / -1 )

@ Everybody

I makes me wanna puke to read what narrow minded biased and besides the point comments you all make. What are 10 year olds? Have you nothing better to do?

The issue is and always should be Japan denies any wartime harm to the South Korean women and thus refuses to apologize.

Isn't this enough abhorrence to loath on the Japanese politicians and the ignorant meek and detestfuly passive population of Japan.

I lived here 10 plus years my family and work is all Japanese. I know first-hand Japanese common people just want to pretend war never happened and mostly that they did nothing evil, ever.

Of course this kind of retoric is not only for this issue, Japan also negates any wartime wrongdoing in China, denies the Nankin (?) massacre even happened, much less they had anything to do with it, denies their wartime human experiments of biological weapons, is completely mute (thus avoiding showing any regret) about their allegiance with the Third Reich, worships their wartime heroes... What else do you need to opine on the real issue with this country that was spared the shame of having their emperor punished and executed and thus coming full grasp with the negative imagine their victims have of them??

No boycott or political move will solve this solely, however they are part of the main counter-strategy: Not allowing Japan or the world to forget that they did commit vile things.

-3 ( +2 / -5 )

I makes me wanna puke to read what narrow minded biased and besides the point comments you all make. What are 10 year olds? Have you nothing better to do?

I meant:

It makes me wanna puke to read what narrow minded, biased and besides the point comments you all make. What are you? 10 year olds? Have you nothing better to do?

-4 ( +1 / -5 )

I don’t mind opinion and so on but dislike untruth.

Japanese people in my experience do know about the war but of course they just are getting on with their lives Japan is now organized so it can never be that country again.

However do I have to constantly repeat and be sorry for the crimes of my brother or Father let alone 3 or 4 generations before?

There have been apologies and ones that refer to the women that suffered.

Again from the official statement in 2015 on the 70th memorial

An eye for an eye leaves the whole world blind.

Again I post from his official statement on the 70th anniversary;

Japan took the wrong course and advanced along the road to war.

And, seventy years ago, Japan was defeated.

On the 70th anniversary of the end of the war, I bow my head deeply before the souls of all those who perished both at home and abroad. I express my feelings of profound grief and my eternal, sincere condolences.

 Also in countries that fought against Japan, countless lives were lost among young people with promising futures. In China, Southeast Asia, the Pacific islands and elsewhere that became the battlefields, numerous innocent citizens suffered and fell victim to battles as well as hardships such as severe deprivation of food. We must never forget that there were women behind the battlefields whose honour and dignity were severely injured.

 Upon the innocent people did our country inflict immeasurable damage and suffering. History is harsh. What is done cannot be undone. Each and every one of them had his or her life, dream, and beloved family. When I squarely contemplate this obvious fact, even now, I find myself speechless and my heart is rent with the utmost grief.

 The peace we enjoy today exists only upon such precious sacrifices. And therein lies the origin of postwar Japan. 

 We must never again repeat the devastation of war.

 Japan has repeatedly expressed the feelings of deep remorse and heartfelt apology for its actions during the war. In order to manifest such feelings through concrete actions, we have engraved in our hearts the histories of suffering of the people in Asia as our neighbours: those in Southeast Asian countries such as Indonesia and the Philippines, and Taiwan, the Republic of Korea and China, among others; and we have consistently devoted ourselves to the peace and prosperity of the region since the end of the war.

 Such position articulated by the previous cabinets will remain unshakable into the future.

 How much emotional struggle must have existed and what great efforts must have been necessary for the Chinese people who underwent all the sufferings of the war and for the former POWs who experienced unbearable sufferings caused by the Japanese military in order for them to be so tolerant nevertheless?

 That is what we must turn our thoughts to reflect upon.

>

0 ( +1 / -1 )

So you visited a Uniqlo in Singapore and assumed all stores across the world were the same?

The one I went to yesterday sure was. And the one last week.

I went to one and it wasn’t busy at all. That leads me to assume all stores are like this.

It’s a fantastic method to use to get an accurate overall picture.

2 ( +2 / -0 )

But go into any Uniqlo anywhere else and its packed with people. I went to a Uniqlo in Singapore and it was jam with people.

That's a co-incidence. I've just come back from a store and there were only 2 staff and 5 other customers. Mind you, it's hot.

0 ( +0 / -0 )

@Peppikids

6% of global earnings is a hell of a lot.

I work in a global company on the business side so I think I know what I talk about. If you loose that most likely you can't recoup it elsewhere.

Aome rhetoric here reminds of Japan at the end of WW2. We see we are going down but rather that then swallow our pride...

0 ( +0 / -0 )

I really do not understand what is happening in S. Korea. Just want more of everything and not a single word of appreciation for any single thing

More money from Japan... But refuse to talk about what you did to the money that was already given to you...

More materials from Japan...

You are not the only sufferers of the world war. What do you need to keep your mouth shut? Pl. tell us.

0 ( +0 / -0 )

The #1 thing Koreans want, which Japanese gov continually refuses to do is:

To properly educate ALL Japanese citizens to understand what ex-Japanese gov did during WWII with all the raw and ugly details (and make majority of Japanese citizens feel terrible for what their great&great-grandfathers did)

Currently, Japanses history textbooks (while modified to address the comfort women somewhat) lacks in the raw and grotesque detail or emphasis. The level of public knowledge on the topic is rather abysmal (See AsianBoss's interview: https://youtu.be/d89JU5Efi6Y , btw, Asian Boss is awesome! I love all their quirky interviews on Japanese subcultures).

From my understanding, Japanese culture deals with past scars and pains by moving forward and focusing on the future.

Unfortunately, Koreans have the opposite culture: they have culture of "Han" that involves remembering the sorrow and pain and living on inspite of it. This is likely resultant from the 5000 years of incessant invasion and wars (caused by the old China and Japan). Thus, it would be very difficult to completely assuage the Korean public, especially the old generations.

However, if Japanese gov makes serious and genuime effort to educate their citizens on this topic (as German schools cover the Holocaust), I'd speculate that would make the majority of Koreans happy and restore the lost faith.

I hope Korea-Japan relations improve. I got some stocks from both countries and it ain't looking pretty...

0 ( +0 / -0 )

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