Korea's major hotels and retailers are in high alert ahead of China's Consumer Day on March 15. Through its famous program "Wan Hui," China's state-run channel CCTV has highlighted defects and tricks in certain brands' products and services.
Over the past several years, the focus was placed on multinational companies such as Nissan, Mercedes-Benz, Nikon and Apple. Once the program is aired, it was followed by the Chinese government's regulations and the boycott of local consumers against the products and services.
There are concerns that Wan Hui would focus on Lotte this year primarily because of China's anti-Korea sentiment resulting from the Terminal High Altitude Area Defense (THAAD) issue.
Lotte was already forced to temporarily shut down 55 of its 99 stores in China due to allegations that they violated fire safety regulations. If the suspension of these stores continues for a month, it would reduce Lotte's sales by about 50 billion won.
The Military Mutual Aid Association, the Employment Insurance Fund and an unidentified South Korean institutional investor have committed a total of $110 million to LaSalle Investment Management’s 804 million-pound ($1 billion) debt fund focusing on the UK and western Europe.&hellip
Private equity firm KKR & Co. and the Public Officials Benefit Association (POBA) have put two commercial buildings in South Korea up for sale separately, in transactions expected to fetch a combined $1 billion and in what would be KKR’s&hellip
The Public Officials Benefit Association (POBA) will select two to three US private debt fund houses to make senior secured, direct lending of around $150 million to US mid-market companies with sales of $50 million to $1 billion. The amount&hellip