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No End in Sight for Lotte’s Mounting Losses in China over THAAD Row

No End in Sight for Lotte’s Mounting Losses in China over THAAD Row

SEOUL, May 7 (Korea Bizwire) – Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing’s apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday.  Chinese authorities ordered Lotte to close its stores following [...]

Lotte Faces Extended Business Suspension in China over THAAD Woe

Lotte Faces Extended Business Suspension in China over THAAD Woe

SEOUL, April 7 (Korea Bizwire) – South Korean retail giant Lotte Group’s Chinese retail operations are facing a protracted business suspension as Chinese authorities are expected to extend punitive measures for an additional month in retaliation for Seoul’s decision to deploy a U.S. missile defense system, industry sources said Friday.  According to Lotte, 41 out [...]

Fourth Industrial Revolution is Reshaping Retail Industry

Fourth Industrial Revolution is Reshaping Retail Industry

SEOUL, March 30 (Korea Bizwire) – A wave of artificial intelligence (AI) is sweeping the retail industry in South Korea, as major department stores and online shopping malls rush to adopt the latest technology to attract consumers. Shinsegae is the first in the retail industry to deploy a marketing strategy involving AI technology. Starting today, Shinsegae [...]

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 [...]