Is Distribution in a Korea-Japan Thaw?…January Japanese Beer Import Value Hits 3.5-Year High

Boycott of Japanese Products Shows Decline but Turns to Increase

[Image source=Yonhap News]

In January of this year, the import value of Japanese beer exceeded the $2 million mark, marking the highest level since Japan imposed semiconductor material export restrictions on South Korea.

According to trade statistics from the Korea Customs Service on the 7th, the import value of Japanese beer in January this year was $2.004 million, an increase of 314.9% compared to the same period last year. This is the highest level in three and a half years since July 2019 ($4.342 million), when Japan began regulating exports of semiconductor and display materials to South Korea, citing the court ruling on compensation for forced labor victims as a pretext.

The import value of Japanese beer exceeded $4 million in July 2019 but then shrank sharply to $223,000 the following month and plummeted further to $6,000 in September, hitting rock bottom. This was due to a boycott movement in South Korea against Japanese beer, clothing, and automobiles following Japan's export restrictions.

However, as the boycott movement lost momentum, the import value of Japanese beer recovered to $1.503 million in March last year, surpassing the $1 million mark for the first time since the export restrictions. From May to December last year, it remained above $1 million for eight consecutive months. In January this year, it even surpassed the $2 million mark.

Last year, the import value of Japanese beer was $14.484 million, an increase of 110.7% compared to the previous year. The import value of Japanese beer was $78.3 million in 2018 but sharply declined to $39.756 million in 2019 and further dropped to $5.668 million in 2020. However, it turned to an upward trend afterward, slightly increasing to $6.875 million in 2021 and more than doubling last year by exceeding the $14 million mark.

This content was produced with the assistance of AI translation services.