South Korea and China agreed to move beyond a year-long dispute over Seoul’s decision to deploy a U. missile shield, paving the way for closer ties between two of Asia’s biggest economies.
The two nations agreed to restore their bilateral relations to a “normal development path swiftly” as stronger ties meet their mutual interest, South Korea’s Ministry of Foreign Affairs said in a statement.
Chinese President Xi Jinping plans to meet South Korean counterpart Moon Jae-in on the sidelines of the Asia-Pacific Economic Cooperation summit in Vietnam next month, Nam Gwan-pyo, the Second Deputy Director of National Security at the presidential Blue House, said in a separate briefing.
Tensions over the missile shield had prompted Beijing to retaliate economically, suspending sales of package tours and hindering the operations of South Korean companies operating in China. Lotte Group, which provided the land for Thaad, suspended operations in most of its 99 hypermarkets in China for alleged violations of fire-safety rules.
The two sides agreed that “South Korea-China relations are very important and in accordance with spirits of joint documents, decided to develop their strategic cooperation partnership,” the statement said. China reiterated its concerns over the Terminal High Altitude Area Defense system, known as Thaad, while South Korea said it didn’t pose a strategic threat to Beijing.
The full deployment of the Thaad in South Korea was completed in September. It is designed to defend the country from an attack by North Korea, which has accelerated efforts to obtain the capability to hit the continental U. with a nuclear weapon.
China has strongly opposed the introduction of the U.-made system, saying it would break the “strategic equilibrium in the region.
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