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Biz News Korea(Eng)

S. Korea to respond to China’s trade retaliation through WTO

Collected: 2017.01.18

Distributed: 2017.01.19

Source: Go Direct

In the face of growing complaints from business circles, the South Korean government will take bilateral and multilateral actions to resolve escalating economic friction with China over Seoul’s planned deployment of U.S. antimissile system Terminal High Altitude Area Defense (Thaad), a government source said Tuesday.

Beijing has been outright restraining Korean business operations in China and products imported from Korea since Seoul made it official in July last year to install a Thaad battery in Korea for deterrence against increasing North Korea nuclear missile threat.

The government will first try to persuade Beijing and international bodies that no country can take retaliatory trade action unless judged to have violated regulations of the World Trade Organization (WTO). Measures were discussed on a cabinet meeting on Monday addressing geopolitical issues.

The government said it will seek multilateral attention on China’s retaliatory moves and at the same time continue to persuade Beijing on the reasoning that the Thaad deployment should be respected as a matter of Korean security, and vowed to step up communication between government agencies and with local businesses.

By Ahn Doo-won and Park Tae-in

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