South Korea’s Ambassador Asks China to Let Lotte Mart Resume Business in Official Letter
(Yicai Global) March 31 — Kim Jang-soo, South Korea’s Ambassador to China, has sent an official letter to the Chinese government requesting permission for Lotte Marts to resume their operations in China.
Kim Jang-soo sent the note verbale to China’s Ministry of Foreign Affairs, Ministry of Commerce, and Ministry of Public Security, requesting that the Chinese Government allow Lotte Mart to resume business in China, the Central Daily News reported yesterday, quoting a source. The letter reads, “Resumption of Lotte Mart’s business will not only improve the Sino-Korea relationship, but also add to Chinese economic prosperity. Please take measures to allow the business of Lotte Mart in China to resume.”
South Korean Ministry of Foreign Affairs officials said, “This was a demonstration of a firm stance from our side.” For an ambassador to China — a representative specially commissioned by the head of state — to send a diplomatic missive with a specific company name appearing on it is a rarity. Lotte Mart also responded to the news, saying that it received no notification before the letter was sent, and that even its Shanghai branch office got the tip from their Beijing colleagues. Lotte has 99 super malls in China. Sixty-seven of these have closed for fire safety reasons, and Lotte itself shut another 20. Over 90% of Lotte’s malls in China are now idled, the Korean Broadcasting Service reported.
Lotte Group Co. [KS:LOTZ] has been awash in a sea of troubles in China ever since it announced it was ceding land to the South Korean government for installation of the US Terminal High-Altitude Defense (THAAD) missile system aimed at potential incoming North Korean rockets. Many in China, however, saw this deployment as a threat to China’s national defense, and Lotte has suffered public boycotts and administrative sanctions ever since news of the transfer broke.
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