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Ghost stores, lost billions as Korea Inc's China woes grow

Reuters  |  SEOUL/JIAXING, China 

By Cynthia Kim and Adam JourdanSEOUL/JIAXING, China (Reuters) - On a faded notice pasted to the padlocked doors of the Lotte Mart superstore in China's Jiaxing, a date can still be read: March 6, 2017 - when the store was ordered to "temporarily" close over alleged fire safety issues.The shuttered entrance and flapping notices are a blunt reminder of how South Korean businesses have become unwitting victims in a year-long diplomatic stand-off between Beijing and Seoul. Last September, Chinese President Xi Jinping warned his South Korean counterpart that bilateral ties would suffer if Seoul ...

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First Published: Wed, September 13 2017. 05:35 IST