China ends Lotte sanctions

Lotte sanctions imposed by the Chinaese government two years ago have now been lfited.

Authorities in Shenyang have allowed South Korea’s Lotte Group to resume work on a US$2.6 billion retail and leisure development in the region following the lifting of sanctions against the firm by the Chinese government last month.

The Lotte sanctions were imposed two years ago after the group yielded land to a US anti-missile defence system.

Shenyang, a capital city in China’s Northeast, has now permitted the resumption of work on the Lotte Town development, although Lotte has not yet formally indicated whether or not it intends to restart construction, which has been on hold while the sanctions have been in place.

The first phase of the project was completed in 2014, while the theme park, flats and hotel planned for the site remain unfinished following Lotte’s sale of land in Seongju county to the South Korean government to allow deployment of the US Terminal High Altitude Area Defence system.

The Lotte sanctions prompted the South Korean company to announce its withdrawal from Mainland China last year, although it now insists that no final decision has been made.


1 comment

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    Glenda posted on December 26, 2019

    Rather ironic, back in 2017 China used its influence to put pressure on Lotte after they sold land to the US defence force. Effectively interfering in ROK internal domestic affairs. 2 years later China accuses the US of interfering in her internal domestic affairs by using influence in the Hong Kong situation. I am not saying two wrongs make a right, just that those in glass houses should not throw stones. Chinese have made some very positive differences to the world, but then they spoil it by acting like an immature, spoilt brats that have yet to really grow up. In the end they lose face in the eyes of the world at large.

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