Home > World > China Might Tone Down Economic Retaliation Against Korea Over THAAD
World

China Might Tone Down Economic Retaliation Against Korea Over THAAD

By March 15, 2017 at 7:52 am
South Koreans may end up paying for the THAAD (Photo : Chung Sung-Jun/Getty Images)

China might tone down its economic retaliation against Korea over the deployment of the U.S. Terminal High Altitude Area Defense or the THAAD system after the impeachment of President Park Geun-Hye.

Some of the government's officials said that the direction of China's retaliation will be determined during the Consumer Rights Day which will be held on March 15. Some retail companies operating in China said that Chinese authorities already started limiting anti-Korea protests in the said country following the decision on the impeachment of Korea's former president last week.

China's retaliation has Lotte as the main target. It originated from the report that the company decided to swap its golf course in Korea with the defense ministry of the country to give way for the installment of THADD in that area. With this, Lotte has to suffer various consequences in China as reported by Korea Times.

China elaborated its reason why they have to implement economic retaliation. The country reasoned out that the U.S. missile defense system on Korea is threatening its security. But Korea made mention before that they also need it to protect itself from the increasing missile threats from North Korea.

Because of this, the Chinese government suspended the operation of more than half of the Lotte Mart shops in the country. The Chinese government cited minor fire safety regulations violations as the reason behind the order.

Lotte has expected to lose Korea than 50 billion won is sales and they still need to pay salaries for their Chinese employees even if they are not working. There were protests which were scheduled; however, the Chinese authorities canceled them.

But reports were growing that there is a possibility that China will be easing its persecution of Korea companies prior to the presidential election in Korea which needs to take place within 60 days of the impeachment.

Reports were also escalating that the new administration may reconsider the deployment of the THAAD since most of the potential Korean candidates have been so mindful about this move. If this is the case, China might tone down its retaliatory measures.

Like Us on Facebook