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South Korea to boost economic cooperation with China amid Thaad concerns

Thursday, January 26, 2017 - 09:18

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South Korea plans to improve communication and cooperation with China to resolve difficulties faced by South Korean companies there, the finance ministry said in a statement on Thursday.

[SEOUL] South Korea plans to improve communication and cooperation with China to resolve difficulties faced by South Korean companies there, the finance ministry said in a statement on Thursday.

The statement, released after a regular government meeting on eternal economic conditions, comes as concerns grow over actions that China is perceived to have taken in retaliation for a South Korean decision last year to deploy a US anti-missile system.

The South Korean government will expand meetings with local businesses doing trade with or in China, and engage Chinese officials more frequently in international meetings, the ministry said.

It also plans to voice problems that South Korean companies have to China should they arise, it added.

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A finance ministry official, who declined to be identified due to media authorisation issues, said the moves were linked to China's indirect action against the deployment of the US Terminal High Altitude Area Defence (Thaad) system.

Beijing has objected to the deployment, which South Korea and the United States say is only aimed at curbing any threat from North Korea.

Finance Minister Yoo Il Ho has said the government was looking into whether China's recent rejections for South Korean charter flight applications was related to the Thaad deployment.

South Korean celebrities have also emerged as a likely target for China's retaliation, media reports have said, as they see contracts and performances in China cancelled.

Beijing has not confirmed whether these actions were linked to the anti-missile system deployment.

REUTERS

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