SEOUL, Sept. 15 (Korea Bizwire) – Lotte Group’s decision to pull its supermarket chain out of China after months of politically motivated retaliation from the Chinese government is triggering fears it could cause a domino effect among South Korean companies. After being subject to incessant retaliation – including raids by safety authorities from the Chinese government [...]
SEOUL, June 1 (Korea Bizwire) – Amid fears of further Chinese economic retaliation over the South Korean deployment of a THAAD missile defense system, duty-free stores that were scheduled to open soon are scrambling to postpone their opening date. Last week, the Korea Duty Free Shops Association (KDFA) made an official request to the Korea Customs [...]
SEOUL, March 28 (Korea Bizwire) – As desperate times call for desperate measures, South Korean conglomerate Lotte is doubling down on its all-out efforts to pander to the Chinese market after 87 Lotte Mart stores were shut down by the Chinese government. Lotte’s unexpected move to send its Chinese consumers a message of understanding and [...]
SEOUL, March 22 (Korea Bizwire) – South Korea’s tourism sector is moving to cope with the drop in the number of inbound Chinese tourists by moving to attract more locals and Southeast Asian visitors, industry sources said Wednesday. The number of Chinese tourists, who accounted for roughly half of the 16 million foreigners who visited [...]
SEOUL, March 20 (Korea Bizwire) – Acting President Hwang Gyo-Ahn’s leadership is being questioned as public criticism grows over the government’s passive attitude towards China’s THAAD retaliation. Critics in South Korea are voicing concern over the apparent lack of countermeasures and complaints from government officials in the face of a series of retaliatory acts from Beijing, [...]