Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Is China toning down THAAD retaliation?
Korean companies go unnoticed by consumer rights show
By Park Jae-hyuk
It was nothing like Korean industry officials had expected — the Chinese “name-and-shame” TV show did not spotlight Korean firms on its annual Consumer Rights Day, Wednesday.
Instead, the consumer protection show criticized U.S.-based Nike basketball shoes for false advertising and Japan-based Muji foods for alleged radioactive contamination.
Lotte Group was relieved. Korea’s fifth-largest conglomerate has feared it might fall victim to the Chinese TV program that has lashed out at various global brands including Apple, Jaguar, Land Rover and Volkswagen.
“It was a relief that the show did not target us or other Korean firms,” a Lotte official said. “But we will keep an eye on the Chinese authority’s retaliatory measures, so that we won’t be targeted again.”
The retail giant has suffered various disadvantages in China for its decision to offer its golf resort as a deployment site for a U.S. anti-missile Terminal High Altitude Area Defense (THAAD) battery here.
Beijing regards THAAD as a threat to its national security.
More than half of Lotte Mart outlets and Lotte’s chocolate factory in China were closed over violations of minor safety regulations. Company officials therefore kept their eyes on the show broadcast from 9 to 11 p.m. (KST) with much anxiety.
However, Beijing has been showing signs of change since last weekend and there is speculation the country might ease retaliatory steps against THAAD.
For instance, Professor Jia Qingguo of Peking University said Tuesday the Chinese government should be careful about economic retaliations which may negatively affect China as well.
“Nationalism among consumers may provide us reasons to attack ourselves,” he said during the China People’s Political Consultative Conference. “It may deal a blow to China’s political stability.”
The Chinese authorities canceled several protests scheduled last weekend and state-run news outlets told people not to act violently. In addition, Chinese police arrested a woman who vandalized a Lotte Mart outlet.
Analysts said China seems to be toning down its retaliation against Korea, ahead of U.S. Secretary of State Rex Tillerson’s visit, Mar. 18, and a summit between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for next month.