Categories
Politics & Society

China seizes equipment from S Korean Lotte stores

Chinese authorities have confiscated dozens of items of machinery from two supermarkets owned by South Korea’s retail giant Lotte Group – the latest move that threatens business links between the two nations, the South China Morning Post reports. Inspectors from the Beijing Development and Reform Commission have seized 23 pump motors and four power transformers from two Lotte Mart stores in the capital city in the wake of a special crackdown on energy consumption. The equipment, which the authorities said failed to meet the city’s power conservation standards, will be dismantled and all the components will be auctioned. The Chinese authorities said the inspection was part of citywide efforts to force companies to improve energy efficiency. However, it is the latest in a series of incidents in which Lotte Group has found its business subject to sudden tax and safety inspections in China since it allowed a US-backed anti-missile system to be deployed on land it owns in South Korea.

Leave a Reply

Discover more from China Economic Review

Subscribe now to keep reading and get access to the full archive.

Continue reading