South Korea began to boycott Japanese products. This is not only about goods and services, even cartoon characters turned out to be banned. The Wall Street Journal writes that social networks have posted lists of products that should be refused in favor of domestic products. They have everything from cat food to Hello Kitty toys.
You can get different options for replacing products through a special mobile application. For example, Hello Kitty toys are proposed to be replaced by the Korean Pororo Penguin.
At first, people refused only to travel to Japan and buy the most famous brands. Now the matter is that the country wants to completely get rid of Japanese influence at all levels.
Everything is so serious that even the Korean instant rice producer CJ Cheiljedang provoked discontent of the citizens of the Land of the Morning Calm. It turned out that its composition contains about 0.1% of Japanese rice flour. The brand apologized to consumers and promised to replace the ingredient.
The local Starbucks took Japanese drinks off the shelves. One of the local bloggers apologized to the audience for using the Japanese name for cakes “mochi” instead of the South Korean “ddeok”. Social networks write that it has become indecent to praise Sony or publish pictures of Japanese food.
Following Korea’s demand to pay compensation to citizens for forced labor in favor of Japan between 1910 and 1945, Japan has cut supplies of materials and semiconductors. Then, Korea was excluded from the list of the countries that are allowed to purchase products in Japan under a simplified procedure. The Japanese government believes that all disputes over forced labor were resolved back in 1965, and today Korea has no right to demand any compensation.
After these events, a boycott of Japanese products and services began. Japan itself has already noted that its economy will not suffer large losses, because its GDP is three times that South Korea’s GDP.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group