Japanese beer exports to South Korea have plunged to zero
Japanese trade data released on Thursday showed beer exports to South Korea plunged to zero last month from 800 million yen a year earlier, amid boycotts sparked by an escalating trade spat between the Asian neighbors. The standoff started in July when Tokyo placed export controls on chemicals that are vital to South Korea's tech industry. Then in August, Japan dropped South Korea as a preferred trading partner -- prompting Seoul to respond in kind.
Read MoreTokyo-based beer maker Asahi said in an earnings report earlier this month that in the nine months to September, operating profit in the region that includes South Korea plummeted 68% compared to the same period a year earlier, mainly due to"the significant sales decrease of Asahi Super Dry in South Korea." Japan's beer exports to South Korea have been in free fall since tensions started boiling over in the summer.
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