Thursday, September 19, 2024
HomeBusinessJapanese cars and beer gain ground in South Korea as relations thaw

Japanese cars and beer gain ground in South Korea as relations thaw

Japanese products, from cars to beer, whisky and clothing, are increasingly popular in South Korea, having recovered from consumer boycotts in 2019 thanks to improved bilateral relations and a cheaper yen.

Monthly sales of Japanese cars including Toyota and Lexus rose 31 percent in August from a year earlier, driven by a capacity shortage at rival Hyundai Motor and a decline in consumer preference for electric vehicles.

South Korean President Yoon Suk-yeol, who has made it a priority to restore ties with Japan since taking office in 2022, will hold a summit with Prime Minister Fumio Kishida in Seoul on Friday.

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