South Korea's Chosun Ilbo reported on the 4th that Lotte Group was facing continuous "retaliation" from China for providing THAAD land to the South Korean Ministry of Defense. South Korean citizen groups "save Lotte" citizen movement to create a new South Korea" (hereinafter referred to as the National Movement).
According to reports, Xu Jingshuo (transliteration), the co-executive chairman of the National Movement, which dominated the movement, started the "Save Lotte" campaign at the end of last month, including the campaign to reward the purchase of Lotte products.
It is reported that the National Movement, founded in May 2014, is a conservative civic group with about 30,000 members nationwide.
Xu Jingshuo said: "Lotte's decision to provide THAAD land to the Ministry of Defense even though it knew it would be 'retalied' by the Chinese government. It is a decision to take the overall situation into consideration based on national security considerations." "As a South Korean citizen, we cannot ignore Lotte's pain." Since March 24, the National Movement has promoted consumers the security status deployed around the THAAD to consumers in front of the Lotte store in 16 South Korean cities including Seoul, Busan, Daegu, and Incheon, and held an event to reward the purchase of Lotte products.
However, although Lotte Group's business has suffered a "significant impact" in the Chinese market, it still does not intend to withdraw from China. Lotte Group stated on the 3rd that the so-called reduction in investment in China is a rumor, and Lotte Group will continue to invest in its business in China. Lotte Group has no better response strategy except waiting. An official who did not want to disclose specific information said, "As a market, China has not yet fully developed, especially in the central and western regions. In order to achieve global development, the Chinese market is indispensable."
According to South Korea's Korean National Issue on the 5th, the THAAD fire has spread from the distribution industry to the manufacturing industry, and the entire South Korean industry is trembling. South Korea's Hyundai Kia Automobile sales in China shrank by half in March. The report quoted Hyundai Motor's news that sales in China in March (560,260) decreased by 44.3% year-on-year. Kia Automobile's sales (160,060 units) decreased by 68.0% year-on-year. The two companies sold a total of 72,032,000 vehicles, a decrease of 52.2%.
South Korea had previously protested to the World Trade Organization, saying that China had countered South Korea's deployment of "THAAD" and imposed restrictions on relevant South Korean companies. In response, a spokesperson for the Chinese Foreign Ministry once said that he had never heard of the so-called restrictive measures. The Chinese government attaches importance to China-South Korea economic and trade cooperation and welcomes foreign companies, including Korean companies, to invest and do business in China, and will also protect the legitimate interests of foreign companies in China in accordance with the law, but the premise is that the relevant companies must operate in China in accordance with the law. (Global Times-Global Network)
Thank you for your attention and support to Laogao Crown Club . Please indicate the source of the reprinting website www.shxuanming.net
EN
CN
