Number of Chinese tourists to S. Korea to halve this year over missile row: BOK
SEOUL, Dec. 13 (Yonhap) -- The number of Chinese tourists to South Korea is expected to halve in 2017 from last year due to China's economic retaliation over South Korea's deployment of a U.S. missile defense system, government data showed Wednesday.
China has retaliated economically against South Korea since early this year after Seoul deployed the U.S. Terminal High Altitude Area Defense (THAAD) missile system, which Beijing sees as a security threat. Seoul and Beijing agreed in November to bring the frayed ties back on the normal track.
The number of Chinese tourists is predicted to fall by 4 million this year from 8,068,000 last year, according to the estimation by the Bank of Korea.
The reduction will lead to 5 trillion won (US$4.5 billion) in lost revenues, the central bank said.
The number of Chinese visitors declined to 2.38 million between March and October this year from 5.94 million a year earlier.
The Bank of Korea has said the Chinese economic retaliation will likely reduce South Korea's economic growth rate by 0.4 percentage point this year.
hdh@yna.co.kr
(END)
-
(Yonhap Interview) Fintech startup AIM aims to bring professional wealth services to ordinary investors
-
Pelosi to meet Nat'l Assembly speaker amid heightened regional tensions over Taiwan visit
-
(2nd LD) Kim, Pelosi agree to support efforts for denuclearization of N. Korea
-
(LEAD) Assembly speaker meets with Pelosi amid heightened Sino-U.S. tensions
-
N. Korea appears to release border dam water without prior notice: official
-
(Yonhap Interview) Fintech startup AIM aims to bring professional wealth services to ordinary investors
-
(2nd LD) Kim, Pelosi agree to support efforts for denuclearization of N. Korea
-
(LEAD) Assembly speaker meets with Pelosi amid heightened Sino-U.S. tensions
-
7 dead, 6 missing in heaviest rainfall in 80 years
-
(5th LD) 8 dead, 7 missing in record rainfall in Seoul, surrounding areas
-
16 dead, missing in record rainfall in Seoul, surrounding areas in 3 days
-
(6th LD) 9 dead, 6 missing in record rainfall in Seoul, surrounding areas
-
(2nd LD) THAAD issue shouldn't be obstacle in Seoul-Beijing ties, top diplomats agree
-
(LEAD) Yoon apologizes to nation after heavy rains trigger massive flooding
-
N. Korea sends letter to China slamming Pelosi's Taiwan trip