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Politics

South Korea Vows to Protect Firms Amid China Pressure Over Thaad

By
and
Updated on
  • Lotte Group executives meet to discuss threat of retaliation
  • Tensions rise after Korea’s decision to deploy missile shield

China Unafraid to Use Its Economic Power to Move Markets

South Korea said it would ensure Korean companies don’t face unfair trade measures in China, pushing back against pressure from Beijing over its decision to deploy a U.S. missile shield on its soil.

The China National Tourism Administration verbally ordered local travel agencies to stop selling tour packages to South Korea starting March 15, the state-run Korea Tourism Organization said Friday. The Korea Economic Daily said Sunday, citing unidentified officials, that Chinese authorities suspended businesses of four Lotte Mart stores for a month for allegedly violating fire safety norms.