Tag: boycott

President Yoon is so unpopular in South Korea I doubt these boycotts by his supporters will have any impact on sales:

Singer and actor IU promotes New Balance’s apparel in this undated photo. Courtesy of E-Land

Political disputes about President Yoon Suk Yeol’s impeachment over his botched martial law declaration have had unexpected impacts on brands endorsed by IU and other celebrities, who supported protests against him, as well as on companies related to his allies.

On Friday, IU’s agency announced that the singer prepaid for food and hand warmers for her fans participating in a candlelight protest for Yoon’s impeachment near the National Assembly in Yeouido, Seoul. After the announcement, Yoon’s supporters began to encourage the boycott of companies who hired her as a spokesmodel, sharing the list of brands.

On the list were New Balance, HiteJinro and Woori Bank.

Although her endorsement agreements with water brand Jeju Samdasoo and Domino’s Pizza have already ended, the names of the brands were also on the list shared by pro-Yoon consumers.

Korea Times

You can read more at the link.

I would be surprised if this happens because these politicians would be denying Korean athletes the opportunity to achieve something they have been spending most of their lives training for and the Japanese government could probably care less if the Koreans show up or not. So what is the point?:

Politicians from the ruling party are hinting at the possibility of Korea boycotting the 2020 Summer Olympics in Tokyo – not because of the ongoing diplomatic trade war but over concerns about nuclear radioactivity. 

“There soon will be a consultation between the party and the government, and I will discuss a Tokyo Olympics boycott at the meeting,” Rep. Shin Dong-keun, the Democratic Party (DP)’s chief negotiator on the National Assembly’s Culture, Sports and Tourism Committee, told the JoongAng Ilbo on Wednesday. 

“Vice Minister of Sports Roh Tae-kang will brief me tomorrow about the Olympics,” he said. “I will also consult with the Korean Sport and Olympic Committee on the issue.” 

During a radio interview earlier in the morning, Shin discussed the possibility of a boycott.

“I am not saying we need to boycott it because of Japan’s economic retaliations,” he said. “I am saying we can have an in-depth survey on safety [and radiation levels] and consider a boycott. 

“It is a sports event, but if there is an issue of health hazard, we must take action,” he also said. 

Joong Ang Ilbo

You can read more at the link, but just to further point out the hypocrisy of this issue; where are these politicians demanding a boycott of China? China is the country largely responsible for the massive amounts of toxic yellow dust that blows over the Korean peninsula each year causing massive health side effects.

So when is a journalist ever going to ask these people boycotting Japanese products why they are not boycotting Chinese products? China has a longer history of trade retaliation against Korea over the THAAD dispute:

As soon as supermarket manager Cho Min-hyuk got to work the day after Tokyo imposed curbs on exports to South Korea, he pulled all Japanese products off the shelves.

It was Cho’s way of taking a stand against Japan in a quickly worsening political and economic dispute between the two east Asian neighbors. 

Such anger has prompted a widespread boycott of Japanese products and services, from beer to clothes and travel, disrupting businesses in what was already the worst economic climate for South Korea in a decade. 

Cho, who manages a 1,500 square meter Purunemart supermarket in Seoul, is taking the hit voluntarily. Over 200 other supermarkets and grocery stores are doing the same, according to Korea Mart Association, a trade group representing them. (…..)

The country’s top two convenience stores CU and GS25, run by BGF Retail (282330.KS) and GS Retail (007070.KS), told Reuters sales of Japanese beer plunged 21.5% and 24.2%, respectively, in the first two weeks of July from the previous two-week period. E-Mart (139480.KS) reported a 24.6% fall.

Reuters

You can read more at the link.