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South Koreans Frustrated Over Arbitrary Retail Regulations

South Koreans Frustrated Over Arbitrary Retail Regulations

SEOUL, Oct. 17 (Korea Bizwire) — Criticism of the government continues among South Korean consumers over arbitrary retail regulations that are causing inconvenience and discouraging local consumption despite their original intention of creating a business environment where both traditional markets and retail giants could coexist. With the rapid growth of supermarket giants, mandatory store closings [...]

Lotte Mart Pulls out of China, Triggering Fears of Domino Effect

Lotte Mart Pulls out of China, Triggering Fears of Domino Effect

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 [...]

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 [...]

Beijing Confiscates Lotte Mart Generators, Auctions Them Off, Keeps the Returns

Beijing Confiscates Lotte Mart Generators, Auctions Them Off, Keeps the Returns

SEOUL, Aug. 24 (Korea Bizwire) — According to the “Beijing Youth Daily” on August 23, a Beijing city government task force ordered the removal of Lotte Mart generators in Juixianqiao and Yangqiao on the grounds of excessive energy use last year.  To add insult to injury, the Beijing paper reported that the city had recently [...]

Pesticide Egg Scandal a Blessing in Disguise for Farm Animals

Pesticide Egg Scandal a Blessing in Disguise for Farm Animals

SEOUL, Aug. 22 (Korea Bizwire) – In the wake of South Korea’s pesticide egg scandal, popular unrest and indignation has fomented a change in attitudes that may not have been possible in ordinary times. As of the date of this article, none other than the president has spoken out about the need for reform. Reform [...]

Egg Sales in South Korea Drop Amid Contamination Scandal

Egg Sales in South Korea Drop Amid Contamination Scandal

SEOUL, Aug. 21 (Korea Bizwire) – Sales of eggs in South Korea sharply declined last week amid safety concerns sparked after eggs from local farms were found to be contaminated with banned chemicals, industry data showed Sunday. Egg sales at the country’s largest discount store chain E-Mart from Wednesday to Saturday declined 40 percent compared to the same period the previous week, its operator E-Mart Inc. said. Lotte Mart, another [...]