The recent deployment of THAAD has not only put a strain on China-Korea relations but also placed downward pressure on the stock prices of the 'Big Three' entertainment labels.
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The Wall Street Journal, borrowing the words of multiple sources, proposed that the blocking of Hallyu activity is China's retaliation against the decision to deploy THAAD.
The negative impact of THAAD on Hallyu inevitably carried over to the entertainment labels in Korea, particularly the 'Big Three' which consists of YG, JYP, and SM. In the past week, YG's stock dropped 11.3% while SM and JYP's stocks have dropped over 6% respectively.
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