Anchor: New data shows that economic retaliation by Beijing against Seoul’s decision to deploy the U.S. antimissile system THAAD has sharply hurt South Korea’s tourism industry.
Our Kim In-kyung has more.
 
Report: South Korea’s tourism revenue fell around eleven percent to 996 million dollars in April from one-point-12 billion dollars the previous month.
 
According to the Bank of Korea’s current account balance data released on Monday, April’s tourism revenue was the lowest figure since July 2015 when the country was hit with the Middle East Respiratory Syndrome(MERS) outbreak.
 
The fall is largely due to a steep decline in the number of Chinese tourists as Beijing has curbed tourism to South Korea following the deployment of the U.S.-built THAAD antimissile system.
 
Tourism revenue refers to spending by international visitors on goods and services in the country, excluding expenses for studying or training.  The tourism account is determined to be in surplus or deficit by subtracting expenses from revenue.
 
During the MERS outbreak, the tourism account deficit exceeded one billion dollars during the month of July 2015.

However, during the THAAD dispute this year, the tourism account deficit exceeded one billion dollars for two straight months in March and April, indicating the THAAD issue had a bigger impact on tourism than MERS.
 
Growing overseas spending by South Korean tourists also widened the travel account deficit. According to the Korea Tourism Organization, the number of outbound tourists jumped more than 22 percent on-year in April to around two million. South Koreans spent over two billion dollars on their overseas trips in April, up about 20 percent from the same period a year ago.
 
The central bank recently forecast that Beijing’s retaliatory action against THAAD is expected to lower South Korea’s economic growth rate by zero-point-two percentage points this year.
Kim In-kyung, KBS World Radio News.