Last year Lee Hak-jae, a Lotte executive, locked himself inside an office in China for two days as local staff gathered outside, demanding answers over compensation. Today, surrounded by confectionery and maps of south-east Asia in his Seoul office, he and his company look to a future outside China.
Lotte’s experience is an increasingly common reality for South Korean businesses.
“I’m relieved I can now forget about the bitter experiences in China and move on to focus on new markets,” Mr Lee, vice-president in charge of overseas business development at Lotte Mart, told the Financial Times.
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