Lotte Group is to close three retail stores near Beijing in the first concrete example of South Korean business hit by fallout from Seouls plan to deploy a US-made missile shield.
The retailer, South Koreas fifth-largest conglomerate, faced a series of regulatory investigations into its operations in China in December after it struck a deal with the government in November to relinquish one of its golf courses to accommodate the advanced anti-missile system.
South Korean businesses have found themselves in Chinas crosshairs since Seouls decision in July to deploy the Terminal High Altitude Area Defence platform. Beijing strongly opposes the move, fearing the US will use the platforms powerful radar to peer deep into Chinese territ…
Read the full article at: https://www.ft.com/content/c4ad2bec-ec37-11e6-930f-061b01e23655