Korean companies were excited for many years about the growth prospects in Mainland China and now are looking to the Philippines, Vietnam and Indonesia for future opportunities as well as smaller markets like Myanmar & Cambodia. It is easy to contemplate success in high growth markets with riches at the end of the rainbow, but the reality is far different. For example, Lotteria has been operating in Vietnam since 2004 and has yet to announce a profitable year. The parent company suffered severe setbacks in China given the Thaad Missile dispute with China, and are looking now to sell off all its retail stores. Many Korean brands that tried to ride Lotte’s retail coattails in China have also been devastated by the same incident. These are only a few examples of what can happen in volatile emerging markets.