Anti-Korean product sentiment to worsen in China amid THAAD deployment

중 사드 보복 극도, 한국기업, 중국탈출 줄잇나
China's retaliatory measures against South Korea for deploying the THAAD missile defense system, have taken a significant toll on the South Korean economy.
Flights have been restricted, and a widespread boycott of Korean products and companies has been pushed by Beijing.
Things have gotten so bad that Korean retail chains-- including the Lotte Mart-- are deciding to call it quits in China.
Lee Unshin reports.
Korean investment in the world's second-biggest economy has plummeted to almost half of what it was.
On Sunday Korea's central bank said investment in China from January to July this year came to 1.75 billion US dollars,... a drop of some 44-percent on-year.
Seoul's been hit by an unprecedented boycott campaign by Beijing as a form of retaliation against Seoul for its decision to deploy the U.S. anti-missile system THAAD.
With sales practically coming to a halt, Lotte Group is selling off its Chinese unit of retail chain Lotte Mart, and the conglomerate says it could end up selling all of its 112 stores.
Some 80-percent of Lotte Mart stores in the nation have been closed for more than half a year... and are racking up losses estimated to reach 1 billion US dollars by the end of 2017.
Currently, Lotte has 22 subsidiaries in China employing nearly 30-thousand people... and according to the company officials, some of the affiliates may have to downsize.
Another major supermarket chain, E-mart, is also in the process of leaving the Chinese market after losing over 130 million US dollars from 2013 to 2016.
And it's not just retail chains.
Over the last 8 months, the combined local sales of Korean automobile giants Hyundai Motor and Kia Motors... have plunged nearly 45-percent compared to the same period last year.
Korea recently went ahead and increased the number of THAAD launchers, stressing that the system is only for defense purposes.
However China objects that they compromise its security, and it's expected that the anti-Korea sentiment will only get worse.
Lee Unshin Arirang News.