SEOUL, March 14 (Korea Bizwire) – South Korean airlines said Tuesday they will reduce China-bound flights temporarily to cope with falling tourist demand after Beijing ordered its travel agencies to stop selling group tours in protest of Seoul’s installation of a U.S. anti-missile system. Local air carriers, including budget carriers, are facing difficulties after Beijing [...]
BEIJING, March 13 (Korea Bizwire) – China’s economic retaliation against South Korea over the deployment of a THAAD missile defense system continues to grow with no sign of abatement, as reports emerge of the Chinese government targeting more South Korean enterprises including private business establishments. As the deployment of the THAAD battery is reportedly being accelerated, [...]
SEOUL, Mar. 12 (Korea Bizwire) — A majority of businesses in the content, tourism and retail sectors said they are suffering from the ongoing spat between South Korea and China over the deployment of a U.S. missile defense system, a survey showed Sunday. According to the survey conducted on 597 firms in those sectors by [...]
SEOUL, Mar. 12 (Korea Bizwire) — South Korean duty-free operators are holding back from expanding their businesses on grim prospects that the intensifying trade spat between South Korea and China over the U.S. anti-missile system will further weigh down sales, industry sources said Sunday. HDC Shilla Co., a latecomer in the local duty-free industry, may [...]
Seoul, March 10 (Korea Bizwire) — With the impeachment of President Park out of the way once and for all and a new presidential election less than two months away, the political discourse in South Korea is now focused on Beijing’s next move. A number of momentous decisions were made over the past few days: [...]
CHINA, March 8 (Korea Bizwire) – Chinese hackers have officially declared online war on South Korea and Lotte, one of its biggest conglomerates, in what appears to be retaliation against the deployment of the controversial THAAD missile-defense system. An unidentified masked man appeared in a video uploaded on Yuku, the Chinese equivalent of Youtube, where [...]
SEOUL, March 7 (Korea Bizwire) – Adding to Lotte’s recent misery in its business operations in China, the South Korean retail giant has recently been the target of fake news on Chinese online communities that promoted anti-Lotte and anti-Korean sentiment. According to sources from China, an alleged interview with Lotte Group Chairman Shin Dong-bin went [...]
SEOUL, March 7 (Korea Bizwire) – The South Korean government and ruling party agreed Tuesday to “actively” consider filing a complaint with the World Trade Organization (WTO) over China’s escalating economic retaliation against the planned deployment of a U.S. missile defense system to the peninsula. The move came after the Chinese authorities reportedly directed local [...]
SEOUL, March 6 (Korea Bizwire) — Tension between Korea and China is intensifying as illegal Chinese fishing in Korean waters continues unabated amid controversy surrounding Korea’s deployment of a Terminal High Altitude Area Defense (THAAD) missile defense system. In a letter of complaint to the Chinese Embassy in Seoul last year, the Korean National [...]
SEOUL, Mar. 3 (Korea Bizwire) – The threat of retaliation by China is increasing with the conclusion of a land swap deal between the Ministry of National Defense of Korea and Lotte Group crucial to implementation of high-altitude missile defense system (THAAD), and the subsequent acceleration of plans to deploy the American missile battery on [...]