Tesco chairman brands S Korea a "watermelon economy"

Tesco's chairman in South Korea has seen "red" after the country brought in a law that could stop the supermarket opening some convenience stores.

The snub came following the country's decision to bring in a law that states smaller urban supermarkets cannot open within 1km of small stores without first gaining community consent.

Lee Seung-han said South Korea, which generated £5bn of revenue for the UK retailer in the last financial year, was “red” and said “not even communist countries follow these kind of policies”.