SEONGJU, May 10 (Korea Bizwire) — Hundreds of residents near the deployment site of a U.S. missile defense system here filed a petition with the Constitutional Court on Monday to obtain an injunction against its construction and operation. A total of 527 residents from Seongju County and neighboring Gimcheon, about 300 kilometers southeast of Seoul, [...]
SEOUL, May 7 (Korea Bizwire) – Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing’s apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday. Chinese authorities ordered Lotte to close its stores following [...]
SEOUL, May 4 (Korea Bizwire) – E-Mart Inc., South Korea’s largest discount outlet chain by revenue, is closing down its business in China two decades after it first entered the country, the company said Tuesday, as widening losses and worsening business conditions stemming from a diplomatic standoff have left the company with little leeway for [...]
SEOUL, May 4 (Korea Bizwire) — South Korea and China will both be hurt economically by the fallout caused by the deployment of the advanced U.S. missile defense system on the Korean Peninsula, a local think tank said Wednesday. According to the Hyundai Research Institute (HRI), Beijing’s retaliation against Seoul’s decision to station a Terminal [...]
SEOUL, May 4 (Korea Bizwire) – South Koreans refrained from traveling to China last month and opted to fly to Japan or Southeast Asia instead, industry data showed on Tuesday, as the ongoing diplomatic spat has caused many to become weary of the neighboring country. According to the data by Hana Tour, the country’s No. [...]
SEOUL, May 2 (Korea Bizwire) – Trump is facing criticism in South Korea after a recent interview with Reuters in which he expressed a desire for the East Asian country to pay for the expenses of deploying a THAAD missile defense system, with some critics accusing the U.S. President of ignoring South Korea’s contribution, including damage [...]
SEOUL, April 28 (Korea Bizwire) – U.S. President Donald Trump said he wants South Korea to pay for the US$1 billion deployment of the U.S. Terminal High Altitude Area Defense (THAAD) battery, a missile defense system the allies are currently fielding here, he said in an interview with Reuters reported on Friday. Trump also said [...]
BEIJING, April 27 (Korea Bizwire) – A massive amount of South Korean foods and cosmetics were denied import approval in China last month, sources said Thursday, as diplomatic tensions between the two countries deepened over the ongoing deployment of a high-tech U.S. missile defense system in South Korea. China’s General Administration of Quality Supervision, Inspection [...]
SEOUL, April 27 (Yonhap) – South Korea’s defense ministry announced Thursday that an advanced American missile defense system here will soon be put into “actual operation” to counter North Korea’s ballistic missile threats. Hours earlier, Adm. Harry Harris, commander of the U.S. Pacific Command (PACOM), told U.S. congressmen that the THAAD system will become operational [...]
SEOUL/SEONGJU, South Korea, April 26 (Korea Bizwire) – U.S. troops in South Korea began installing the equipment for an advanced missile defense system at a site in a southeastern region of the country, facing fierce protests from local residents. The overnight, unannounced operation came just six days after U.S. Forces Korea (USFK) secured the land [...]