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Entertainment agency stocks plummet as China reacts to THAAD deployment
The value in stock assets held by Korea’s entertainment industry leaders has plummeted in the wake of the Chinese government’s response to the anticipated US anti-missile system deployment here.
Lee Soo-man |
Yang Hyun-suk |
The value of stocks held by the two entertainment moguls, along with those of many other celebrities, fell after Beijing drastically cut commercial ties with Korean businesses after Seoul announced the plan to install the Terminal High Altitude Area Defense battery to counter possible missile attacks by North Korea.
The entertainment, tourism and other cultural sectors have been hit particularly hard, as China is the largest export market for Korean cultural content.
By Joel Lee (joel@heraldcorp.com)