Lotte Archives | Be Korea-savvy
Is China’s THAAD Retaliation Coming to an End?

Is China’s THAAD Retaliation Coming to an End?

SEOUL, Nov. 9 (Korea Bizwire) – Expectations are running high ahead of a presidential summit between South Korea and China that China’s months-long economic retaliation over the politically charged THAAD anti-missile systems might be finally coming to an end. It was the agreement between foreign ministers from both countries last month to recover and improve the [...]

No Shortage of Buyers for Lotte Mart’s Chinese Properties

No Shortage of Buyers for Lotte Mart’s Chinese Properties

SEOUL, Sept. 19 (Korea Bizwire) – Lotte Group’s decision to cut its losses on its Lotte Mart business in China is reportedly drawing interest from five to 10 potential buyers, according to sources in the investment banking industry.  Speaking on conditions of anonymity, one source said, “The names of the firms involved in negotiations cannot [...]

South Korean Economy Buckles Up for More Chinese Retaliation Over Additional THAAD Deployment

South Korean Economy Buckles Up for More Chinese Retaliation Over Additional THAAD Deployment

SEOUL, Sept. 7 (Korea Bizwire) — With the government keeping a wary eye on China’s next move amid the deployment of an additional THAAD missile defense battery, South Korean companies are bracing for further retaliation from the Chinese government. Earlier Thursday, the South Korean defense ministry announced the deployment of an additional four launchers for [...]

Lotte to Invest Additional $300 Million into Chinese Operations

Lotte to Invest Additional $300 Million into Chinese Operations

SEOUL, Aug. 31 (Korea Bizwire) — South Korea’s retail giant Lotte said Thursday it will inject another $300 million into its hypermarket chain in China, which is bearing the brunt of Beijing’s apparent economic retaliation over Seoul’s deployment of a U.S. missile defense system. Lotte Mart, the operator of the group’s hypermarket chain, said Lotte [...]

Lotte Founder Loses Last Remaining Board Seat from Affiliate

Lotte Founder Loses Last Remaining Board Seat from Affiliate

SEOUL, Aug. 9 (Korea Bizwire) – The founder of South Korean retail giant Lotte lost his last remaining board member seat at the affiliate of the conglomerate, effectively leaving the management scene, the business group said Wednesday. The board of directors of Lotte Aluminum Co., a packaging material firm, decided not to extend the term [...]

Lotte Units Suffer Earnings Setbacks on THAAD Fallout

Lotte Units Suffer Earnings Setbacks on THAAD Fallout

SEOUL, Aug. 3 (Korea Bizwire) — Subsidiaries of South Korean retail giant Lotte Group saw their earnings tumble in the second quarter, data showed Thursday, stung by China’s retaliation over Seoul’s decision to deploy an advanced U.S. missile defense system. In early March, Lotte agreed with the Seoul government to swap its golf course in [...]

Korea’s Homeshopping Enlists Help of Comedians, YouTube Stars

Korea’s Homeshopping Enlists Help of Comedians, YouTube Stars

SEOUL, June. 21 (Korea Bizwire) — With the advent of technology, South Korean shopping channels as we know them are in for a dramatic makeover.  The massive conglomerates behind many of these channels are increasingly tapping comedians and internet stars to be the face of their sales broadcasts through digital platforms. One industry powerhouse leading the [...]

Lotte Determined to Succeed in Chinese Market Despite THAAD Row

Lotte Determined to Succeed in Chinese Market Despite THAAD Row

SEOUL, June 7 (Korea Bizwire) – South Korean retail giant Lotte will not be abandoning its businesses in China, which have been reeling from apparent retaliation after the company provided the South Korean government with land for a new THAAD anti-missile system.  A Lotte official in China said Wednesday that “there is no change in [...]