SEOUL -- Top South Korean supermarket chain E-mart will withdraw from China, the vice chair of the company's parent said Wednesday, due to mounting losses amid souring relations between the two nations over the deployment of an anti-missile system.
E-mart will close its six supermarkets in China once store leases expire, said Chung Yong-jin, vice chair and a member of the founding family of the Shinsegae Group. This is the first South Korean company to exit the Chinese market since February, when a dispute flared over Seoul's deployment of the U.S. Terminal High Altitude Area Defense missile defense system.
