As global brands shun Russia, Asian firms sit out controversy – By Liam Gibson (Al Jazeera) / March 21, 2022
Different government policies and public perceptions fuel reluctance to follow Western-led corporate exodus, experts say
Taipei, Taiwan – As companies exit Russia en masse following the invasion of Ukraine, Asian brands have been conspicuously absent from the corporate exodus.
Of the more than 370 global companies that have withdrawn, suspended or scaled back operations in Russia, the vast majority are headquartered in Europe or North America, including iconic brands such as McDonald’s, Shell, Nike and Apple. With the exception of a handful of corporate giants from Japan, South Korea and Taiwan, Asian brands have largely opted to either cautiously remain in Russia or keep quiet about their plans.
Those who have quit the market have communicated their decision in a tepid, understated way.
While some Western policy analysts have justified Russia’s isolation with comparisons to the ostracisation of apartheid South Africa, corporate Asia’s muted response has raised questions about the universality of reputational and ostensible ethical considerations influencing North American and European firms.
