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 24 (Korea Bizwire) – A unit of Lotte Group, a South Korean retail giant currently receiving the brunt of China’s apparent economic retaliation in protest over Seoul’s deployment of a U.S. missile defense scheme, said Friday that it plans to raise a total of 360 billion won (US$320 million) via stock sales and [...]
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 [...]
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, [...]
Seoul, March 10 (Korea Bizwire) — With the impeachment of President Park out of the way once and for all and a new presidential election less than two months away, the political discourse in South Korea is now focused on Beijing’s next move. A number of momentous decisions were made over the past few days: [...]
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 [...]
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 [...]
SEOUL, March 6 (Korea Bizwire) – Stocks of major retailers and their affiliates with business ties to China continued to plunge Monday, as Beijing has intensified its measures against South Korea in what appears to be retaliation for the deployment of an advanced U.S. anti-missile battery. Lotte Shopping Co., a key unit of retail giant [...]
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 [...]
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 [...]