The South Korean government is setting aside about 540 billion won in subsidies to help businesses hurt by China's retaliation over THAAD missile defense.

The Ministry of Trade, Industry and Energy has been reviewing trade conditions with China to determine the scale of difficulty faced by South Korean exporters and investers.

South Korean businesses, including small and medium-sized firms, have faced sharply worsened business conditions in China since Seoul decided to deploy U.S. provided THAAD antimissile systems over Beijing's objections.

In addition to the subsidies set to begin early next month, Vice Trade Minister Woo Tae-hee says cooperation will be strengthened among government agencies to support affected businesses with consulting and an improved regulatory environment.