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.
South Korea’s top financial regulator will cut reserve requirements by half for insurance firms’ cross-border infrastructure assets from as early as June, paving the way for domestic insurers to boost overseas alternative investments. The Financial Supervisory Service (FSS) is working&hellip
The Government Employees Pension Service (GEPS) has awarded overseas private debt fund mandates for opportunistic strategies to Apollo Global Management and Cerberus Capital Management to invest up to $160 million, according to the South Korean pension fund on March 24.&hellip
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip