Economy

South Korea: Deployment of THAAD missile defense system completed

South Korea: Deployment of THAAD missile defense system completed”

Yesterday, the biggest foreign business group in South Korea said it supported a trade deal with the United States that was slammed by US President Donald Trump, who had said he would discuss possible withdrawal from the US-Korea Free Trade Agreement this week.

The announcement came three days after North Korea claimed to have successfully tested a hydrogen bomb, jolting not only South Korea and the US but also its ally China.

Speaking at an economic forum in Russia's eastern port of Vladivostok, Putin said Thursday he believes the Trump administration is "willing to resolve the situation".

A number of countries have firmly condemned North Korea's test calling for retaliation.

While solid earnings and recovering exports will offset concerns about North Korea's intentions and continue to underpin Kospi gains, it's a different story for the currency, says Jaejoon Woo, chief Korea economist at Bank of America Merrill Lynch in Hong Kong. Putin said North Koreans would "eat grass" rather than give in to outside pressure to disarm.

Despite protests by Beijing and Moscow, Seoul and Washington agreed on the deployment of a Thaad battery in July 2016.

Hundreds of protesters gathered on the road to the base to block the planned movement of the Thaad launchers and construction materials.

According to South Korea media, a protest which degenerated into a clash with police officers has erupted in the Seong-Ju village of South Korea about 300km to Seoul rendering 38 people injured including six policemen, the Guardian reports.

Several U.S. military vehicles, including trucks carrying payloads covered in black sheets that appeared to be launchers, had been seen heading toward the site.

Two launchers have been operational at the site since May, CNN reported.

Washington and Seoul began deploying THAAD before a conservative South Korean government was ousted in March in a corruption scandal. Two launchers had already been deployed.

The remaining four launchers of a Terminal High-Altitude Area Defense battery from the USA were set up in Seongju, North Gyeongsang Province early Thursday morning after a five-month delay.

Many residents have expressed concerns that THAAD - which is created to shoot down short- and intermediate-range ballistic missiles - will cause environmental and health problems for locals, due to its emission of electromagnetic waves.



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