Uniqlo is about to close its biggest store in Korea in the face of Covid-19 situation and a wave of Japanese boycott in Korea.
|Insideretail reported that the largest Uniqlo store in Korea will close on January 31, 2021. Screenshot Insideretail.|
The Insideretail news site has just published this information, with a photo taken in front of the Uniqlo store in Korea’s Myeongdong shopping paradise with the words “Thank you for visiting”.
Meanwhile, Uniqlo Korea announced on its website that its store in the shopping paradise of Myeongdong will be closed on January 31, 2021. This is also the second largest store in the world and is the “golden chicken” of Uniqlo with daily sales of about $ 1.8 million since its operation in 2011.
Along with the wave of boycott of Japanese products that appeared in Korea since last year, the Covid-19 translation that caused the sharp decline of international visitors to Korea was also the reason why Uniqlo Korea closed its stores in the shopping paradise. Myeongdong. The number of visitors to Myeongdong dropped sharply during the Covid-19 period, causing a drop in sales of the Uniqlo store here.
In September 2020, Uniqlo closed nine stores in Korea because of a sharp drop in demand for Japanese goods. The wave of boycott of Japanese goods in Seoul is a response to the Japanese government’s application of export restrictions on some raw materials for industrial production exported to South Korea.
Japan-Korea relations worsened at the end of 2018 when a Korean court ordered Japanese companies to compensate some Korean workers who were forced to work in World War II.
Since the beginning of July 2019, Japan has tightened exports of three materials used to manufacture chips and screens to South Korea, leaving the global technology supply chain at risk of being broken.
In August 2020, Uniqlo said it will not close any more stores and plans to open another store in Korea.