13 February, 2020

Japan: Korean boycott of Japanese goods costs Asahi Group US$27 mln last year

Japanese beer and beverage maker Asahi Group Holdings said a South Korean consumer boycott of Japanese goods cost it around 3 billion yen (US$27.32 million) last year, CNA reported on February 13.

"The impact is continuing in the current year," Atsushi Katsuki, a senior Asahi executive told reporters.

Tensions between the two countries escalated after a South Korean court in 2018 ordered Japanese companies to compensate Koreans who were forced to work for Japanese occupiers during World War II. Japan later retaliated by restricting exports of high-tech materials to South Korea.

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