April 27, 2024

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[THE INVESTOR] Chinese tech giant Tencent canceled its marketing event in Seoul on March 7, one day before the event, possibly fearing the growing tensions surrounding South Korea’s planned deployment of a US-made missile defense system. 

The Tencent Brand Solution event was scheduled to be held at Sejong Art Center in central Seoul on March 8. The event was aimed at explaining Tencent’s services such as messaging apps QQ and WeChat that can be used by Korean firms preparing for their entry into the Chinese market.

The Korean PR agency said the event was canceled because Benny Ho, senior director of business development who oversees Tencent’s overseas operations, could not attend due to his personal schedule.

But industry watchers say Tencent may have been under pressure for holding a large-scale promotional event in Seoul amid China’s mounting economic retaliation against Korean businesses following the Korean government’s decision to deploy the Terminal High Altitude Area Defense.

The agency said the headquarters has not yet decided on the rescheduled date.

By Lee Ji-yoon (jylee@heraldcorp.com)