S. Korea to take actions against Chinese retaliation over U.S. missile system

March 24, 2017

Yonhap News Agency:

South Korea’s finance minister pledged Friday to take actions against China amid no apparent signs of progress in ending a diplomatic row with the world’s second-largest economy.

China has taken a series of economic retaliations against South Korea in recent months over the ongoing deployment of an advanced U.S. missile defense system in South Korea.

China has imposed a ban on Chinese sales of tour packages to South Korea in a move that dealt a heavy blow to South Korea’s tourism industry that has long relied on Chinese visitors.

Beijing has repeatedly pressed South Korea to drop the plan, claiming the U.S. missile defense system would undermine its security interests.

Still, Seoul and Washington have dismissed such concerns, saying the U.S. missile shield is defensive in nature and focused on North Korea’s missile activities.

“We are closely reviewing whether Chinese moves violated international norms,” Finance Minister Yoo Il-ho said in a meeting. He said South Korea will deal with Chinese retaliations “according to relevant laws and procedures in case of violation.”

South Korean officials said it is highly likely that China’s retaliatory measures run counter to the spirit and regulations of the World Trade Organization…

Read full post.

International Cooperation