South Korean expenditure in Japan was down by 60 percent in August compared to last year amid an escalating trade war between the Asian neighbors, media reported on Thursday
MOSCOW (Pakistan Point News / Sputnik - 03rd October, 2019) South Korean expenditure in Japan was down by 60 percent in August compared to last year amid an escalating trade war between the Asian neighbors, media reported on Thursday.Visitors and tourists from South Korea spent a combined $12 million on large purchases in Japan last August, $16 less than what was spent during the same month in 2018, Yonhap news Agency reported, citing the Korea Customs Service.
The number of travels has fallen by 48 percent according to data the Yonhap has obtained from Japan National Tourism Organization.
The trade spat began in July when Japan imposed restrictions on the export of key chemicals necessary for Korean chip production. The action is believed to be retribution over a court ruling last year that required Japan to pay restitution to families of forced labor victims during Imperial Japan's colonial rule over the Korean Peninsula.
