Lotte Archives | Be Korea-savvy
Lotte Doubles Down on Pandering to Chinese as Last Resort to Little Avail

Lotte Doubles Down on Pandering to Chinese as Last Resort to Little Avail

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 [...]

Majority of Chinese Find Beijing’s Retaliation over THAAD Row “Too Much”

Majority of Chinese Find Beijing’s Retaliation over THAAD Row “Too Much”

SEOUL, March 21 (Korea Bizwire) – A majority of Chinese citizens think Beijing’s retaliation against South Korea’s Lotte Group over a missile dispute is wrong, a recent survey showed Tuesday. About 37.2 percent of those surveyed said the retaliation is “very wrong” while 19 percent said it was “wrong,” according to the survey of 2,100 [...]

THAAD Deployment: South Korean Government Faces Criticism as Businesses Suffer

THAAD Deployment: South Korean Government Faces Criticism as Businesses Suffer

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, [...]

Over Half of Lotte Outlets on Temporary Shutdown in China

Over Half of Lotte Outlets on Temporary Shutdown in China

SEOUL, March 8 (Korea Bizwire) – Lotte Group said Wednesday more than half of its hypermarket chains operating in China have been forced to shut down temporarily, adding to woes that Beijing’s reprisal against Seoul over the deployment of an advanced U.S. missile defense system is intensifying.  The number of Lotte Mart stores facing business [...]

Chinese Hackers Declare War On South Korea

Chinese Hackers Declare War On South Korea

  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 [...]

China’s ‘Unreasonable’, ‘Inappropriate’ Retaliation over THAAD

China’s ‘Unreasonable’, ‘Inappropriate’ Retaliation over THAAD

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 [...]

Lotte Risks 8-Trillion-Won Business with THAAD Deal

Lotte Risks 8-Trillion-Won Business with THAAD Deal

SEOUL, Feb. 28 (Korea Bizwire) – Lotte’s board of directors approved on Monday a land swap deal with the South Korean military, providing a golf course as the site for a new THAAD missile battery. The deal was signed on Tuesday.  Although Lotte will in return receive a state-owned military site near Seoul, the decision [...]