The President and CEO of AmorePacific group has weighed in on the ongoing dispute between China and Korea over the latter’s decision to deploy a US anti-missile system, known as THAAD, on its territory, according to a report published by Yonhap News.
“THAAD row could disrupt the company’s marketing activities in China,” Bae Dong-hyun is reported to have said at the general shareholder meeting held last Friday. “If the situation worsens after the deployment is completed, we could suffer a blow in sales.”
Analysts are predicting that AmorePacific could suffer as much as a 20 percent drop in operating income should THAAD tension deepen. Some 45 percent of the company’s revenue comes from China-related sales.