April 23, 2024

• 

[THE INVESTOR] Lotte Group is likely to face a protracted suspension of its Chinese operations as the local authorities are considering extending punitive measures for another month, industry sources said on April 7.

This is seen as part of retaliatory actions against Korean businesses there following Seoul’s decision to deploy the THAAD missile system,

According to the Korean retail giant, 41 out of 75 Lotte Mart stores whose operations were suspended for one month have not yet received inspection visits.

Nearly 90 percent of Lotte Mart outlets in China have been placed under suspension either due to their failure to meet fire and other safety regulations or on their voluntary suspension since February as some Chinese consumers continued to stage anti-Korea protests near the stores.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)