In order to understand how Japan’s earthquake has affected businesses in neighbouring South Korea, take a look at seafood.
Exports of South Korean seaweed to Japan have soared, with many Japanese fearing that algae harvested off their own coast – a frequent ingredient in miso soup – could be contaminated by radiation seeping from the shattered Fukushima atomic power plant.
Similarly, any South Korean company that can produce a substitute for a Japanese product is in a strong position, with international banks expecting oil refiners such as SK Innovation and steelmakers such as Posco to take market share away from Japanese rivals hammered by the quake.
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