THAAD Archives | Be Korea-savvy
China’s Singles’ Day Signals End of THAAD Retaliation

China’s Singles’ Day Signals End of THAAD Retaliation

SEOUL, Nov. 14 (Korea Bizwire) — South Korean companies enjoyed increased sales during Chinese Singles’ Day over the weekend, signaling the end of China’s year-long THAAD retaliation. Sales at major duty-free stores including Lotte and Shilla increased by up to 30 percent among Chinese customers, while sales at online shopping giants Gmarket and Global Hmall nearly [...]

Court Rules THAAD-related Documents Must Remain Confidential

Court Rules THAAD-related Documents Must Remain Confidential

SEOUL, Nov. 10 (Korea Bizwire) – A Seoul court ruled Friday that a series of documents jointly drawn up with the United States for the deployment of a Terminal High Altitude Area Defense (THAAD) missile defense battery should remain confidential, as their disclosure would harm national interests. The Seoul Administrative Court delivered the verdict, rejecting [...]

Global Market Improvements Fuel Upturn in S. Korea Economy Under President Moon

Global Market Improvements Fuel Upturn in S. Korea Economy Under President Moon

SEJONG, Nov. 10 (Korea Bizwire) — When President Moon Jae-in took office after his victory in the unprecedented presidential by-election in May, he was confronted with tough challenges ranging from social upheaval caused by his predecessor to heightened regional diplomatic and military tensions. One of the biggest issues confronting the chief executive was finding a [...]

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 [...]

Asiana Airlines Q3 Net Plunges 81% Due to Lower China Demand

Asiana Airlines Q3 Net Plunges 81% Due to Lower China Demand

SEOUL, Nov. 9 (Korea Bizwire) – Asiana Airlines Inc., South Korea’s second-largest airline by sales, said Thursday its third-quarter net profit plunged 81percent, hit by lower demand from China. Its heavy dependence on travel demand from China and other Asian countries resulted in poor performance in the July-September period. Net profit for the three months nosedived to 28.8 billion won (US$26 million) from 152.6 billion won a year earlier, the company said [...]

Lotte Expecting Resumption of Shenyang Project on Envoy’s Visit

Lotte Expecting Resumption of Shenyang Project on Envoy’s Visit

SEOUL, Nov. 9 (Korea Bizwire) — Lotte Group’s giant construction project in Shenyang, China, could resume this month after a year of suspension as China pulls back on its retribution over a U.S. anti-missile defense system being deployed in South Korea, corporate sources said Thursday. Ambassador Noh Young-min, South Korea’s new envoy to Beijing, who [...]

Cosmetics Companies Engaged in Aggressive Overseas Marketing Campaigns

Cosmetics Companies Engaged in Aggressive Overseas Marketing Campaigns

SEOUL, Nov. 3 (Korea Bizwire) — Local cosmetics companies are taking more aggressive approaches to win over foreign markets, as they gain confidence from easing tensions between South Korea and China, industry officials said Friday. AmorePacific, which suffered a drop in stock prices and exports due to Seoul’s diplomatic row with Beijing, is set on [...]

Lotte Group Hoping for Biz Comeback on S. Korea-China Thaw

Lotte Group Hoping for Biz Comeback on S. Korea-China Thaw

SEOUL, Nov. 1 (Korea Bizwire) — Lotte Group, a conglomerate whose affiliates sprawl from supermarkets to duty-free stores and construction, is hoping for a big comeback in its China business after suffering major losses resulting from a Seoul-Beijing diplomatic spat, corporate insiders said Wednesday. Seoul and Beijing announced a day earlier that they will make [...]