13 March 2017

News Report: Over 50% of S Korean Companies Consider THAAD Deployment Harmful for Business

Over half of South Korean companies view the decision to deploy the Terminal High Altitude Area Defense (THAAD) system as harmful for business, a poll showed on Sunday.

MOSCOW (Sputnik) — According to the poll results provided by the Yonhap news agency, 56.2 percent of 597 companies said the decision had already affected their business, and 32.9 percent expect problems within next three months.

Seoul and Washington first agreed to deploy THAAD in July 2016 amid South Korea’s growing unease about North Korea’s nuclear program. The system is designed to intercept short, medium and intermediate ballistic missiles at the terminal incoming stage.

Russia and China have repeatedly warned that the move may undermine regional stability. In February, China suspended South Korean streaming services, which was followed by the suspension of tour packages sales earlier in the month.

On Monday, the United States announced the deployment of the first elements of the THAAD system in South Korea. The full deployment is expected to be finished by late June.

This story first appeared on Sputnik & is reposted here with permission.