South Korea’s finance ministry held a round-table discussion on Monday to discuss possible responses to recent actions taken by Beijing in retaliation for the establishment of the Terminal High Altitude Area Defense (THAAD) system in South Korea. Yonhap News Agency reported that experts attending the panel suggested South Korea develop a strategy for weaning off the country’s economic dependence on China. That will prove difficult as South Korea’s largest trading partner accounts for around 25% of its exports.
Korean finance ministry preparing “countermeasures” to China’s THAAD retaliations
At a round-table held by South Korea’s finance ministry on Monday, experts recommended creating a plan to reduce dependence on trade with China.