South Korea said it will offer tax and loan concessions to firms hit by trade sanctions China imposed in retaliation against Seoul's deployment of a powerful anti-missile defense system, highlighting the broader impact of intensifying tensions on the Korean Peninsula.
The government plans to allow duty-free firms and other retailers operating in China to defer all or part of their corporate income and value-added taxes for up to nine months, the finance ministry said on Thursday.
The ministry will also offer cheap loans to auto-component makers hit by declining sales of South Korean cars in China.