Japanese Newspaper Criticizes Japan’s Trade Retaliation against South Korea

The Tokyo Shimbun reported on June 23 that Japan’s export curbs against South Korea that started a year ago have unexpectedly backfired and it is Japanese companies that are currently suffering.

“It was predicted that higher uncertainties on the supply side would lead to a significant impact on the South Korean economy, but South Korea’s semiconductor production has not been affected at all by the export curbs,” the newspaper reported, adding, “In response to the restrictions, South Korean companies have reduced their dependence on Japanese components and materials and diversified their supply sources and their successful efforts are not limited to those items subject to the restrictions.”

The newspaper also said that the export curbs have resulted in a prolonged boycott of Japanese products and travel to Japan in South Korea and companies such as Nissan and GU had to decide to withdraw from the South Korean market. “Doubts are rising about whether the Japanese government’s method was appropriate,” it pointed out.