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Lotte considers sale of supermarkets in China - source
September 11, 2017 / 12:15 AM / 13 days ago

Lotte considers sale of supermarkets in China - source

SEOUL, Sept 11 (Reuters) - South Korea’s Lotte Shopping is considering selling its supermarkets in China and other options should political tensions between Seoul and Beijing continue next year, an official at the retailer told Reuters on Monday.

“It is natural that we should have various alternatives, but no discussions or decisions have been made regarding detailed plans,” the official said on condition of anonymity because of the sensitivity of the issue.

A total of 87 of Lotte Shopping’s 99 Mart stores in China were closed following Seoul’s decision last year to deploy a U.S. missile defence system to counter the threat from North Korea. China opposes the deployment, saying the system’s powerful radar can also reach its territory. (Reporting by Hyunjoo Jin; Editing by Stephen Coates)

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