(VOVworld) – The South Korean Defense Ministry announced Tuesday that the US has begun to deploy the Terminal High-Altitude Area Defense (THAAD) system in South Korea to cope with growing threats from North Korea.

The defense system will take out any missiles considered a threat to South Korea. (Photo: Reuters)

Local media said the launch pads and pieces of the system have been transported to an unidentified base of the United States Forces Korea.

Meanwhile, the South Korean government said it will provide urgent assistance to small and medium-sized enterprises who are facing financial risks from a series of retaliatory actions by China in protest of Seoul's THAAD installment. The South Korean Ministry of Trade, Industry, and Energy will offer loans of up to 866,000 USD for 5 years to SMEs who may be victims of Beijing's trade restrictions.