South Korea mulls filing complaint over China's boycott

SEOUL: South Korea is considering filing a complaint with the World Trade Organisation (WTO) against China for boycotting its products and companies over the decision to deploy an anti-missile defence system in Seoul.

The installation of the Terminal High Altitude Area Defence (Thaad) began on Tuesday after Seoul had accepted Washington's proposal to deploy it on its territory last year to combat a growing security threat from North Korea, Efe news reported.

"With regard to the issue of filing a complaint with the WTO, (the government and the party) agreed to actively weigh the option," Lee Hyun-jae, the policy chief of the ruling Liberty Korea Party, said Tuesday.

"(We) also agreed to strengthen government efforts to minimize the damage on local industries," he added.

Last week, several Chinese travel agencies suspended the sale of tourist packages to South Korea.

Beijing also banned South Korean airline carriers from operating charter flights in the country.

The Lotte Group, which approved a land swap deal with the South Korean government to facilitate the installation of the Thaad, has been one of the main targets of the boycott.

The company's website was reportedly hacked, and several of its stores in China have been closed for alleged violation of local regulations.

China also did not screen a single South Korean movie in 2016, while K-pop bands have disappeared from Chinese television since summer of last year, and their concerts have been postponed.

South Korea considers these measures reprisals by Beijing to oppose the deployment of the Thaad in the Korean peninsula.

Seoul claims the missile system is a defence mechanism to protect itself from possible missile launches from North Korea but China fears the powerful Thaad radars could be used to obtain intelligence data from its military bases.

Lee also said China "needs to make efforts to restrict Pyongyang's nuclear program", adding that if that is done, "there is no need for Thaad".

He added South Korea will work to forge a "constructive future" with China.
Stay on top of business news with The Economic Times App. Download it Now!
FROM AROUND THE WEB

Luxurious 3/4BHK in Dadar E from 7.5C onwards

Bombay Realty

1 BHK starting @45L in Kalyan (W). Book with 0% down payment

Ajmera Realty

Ready apartments @Dosti Imperia in Thane West

Dosti Realty Ltd.

MORE FROM ECONOMIC TIMES

Entertainment

Science & Technology

Scooter's back, with new hero on road

From Around the WebMore from The Economic Times

Double your returns*. Earn around 8.65%*

Funds India

Go paperless - Get your Class 2/3 DSC

Sinewave

Original HP cartridges at unbeatable prices

Workstore.in

Eat better. Eat new. Everyday!

FreshMenu

Investments & Markets

The day I feel entitled will be the end of my career

Corporate & Industry

Day in Pics