South Korean firms flock to Beijing hoping summit will hasten thaw with ChinaSEOUL (Reuters) - Hoping a thaw in relations with China will reopen opportunities after a diplomatic spat earlier this year cost many of them business, some 300 South Korean executives joined President Moon Jae-in for the start of his four-day trip to China on Wednesday. The delegation was the largest to accompany a South Korean leader abroad, and reflected the value the firms placed on mending ties with their country s biggest trading partner. Trade and business exchanges between the two countries froze earlier this year after South Korea deployed U.S.-made Terminal High Altitude Area Defense (THAAD) anti-missile system regardless of vehement objections from Beijing.  Among those who traveled were executives from some of the firms hit hardest by the backlash, including Lotte Group and cosmetics and entertainment firms such as Amorepacific and S.M. Entertainment. Addressing around 500 Chinese and South Korean businessmen at a forum in Beijing, Moon stressed the need to  build a systemic foundation for a stable economic cooperation . Moon said he expects to sign a memorandum with President Xi Jinping at a summit on Thursday, a step toward follow-up negotiations of the South Korea-China Free Trade Agreement (FTA) concerning services and investments.  This is expected to expand the entry of both countries  companies into service industries, and revitalize mutual investments,  he said.  The THAAD disagreement knocked about 0.4 percentage points off expected economic growth in South Korea this year and resulted in lost revenues of around $6.5 billion from Chinese tourists in the first nine months of the year, as the number of  visitors fell by half. Anti-South Korean sentiment also battered firms  sales of  entertainment, cosmetics and cars in China.  Multiple officials from South Korea s largest companies told Reuters they hoped that Moon s visit to China would mark the next step toward improving ties after the two governments reached an initial agreement in late October to move past the dispute.  Still, they were doubtful whether a sudden turnaround in business relations would be achieved over the coming days.  If you look at earlier cases, it takes several, gradual steps for unspoken reprisals to be eased,  said an official from a Korean firm accompanying Moon who declined to be identified as the matter was sensitive.   We re hoping this is a key step.  Reuters spoke to around 20 of the South Korean firms represented in the delegation, and none had any fresh investment or business deal announcements planned. Instead, an official at game developer Wemade Entertainment Co Ltd, whose CEO attended the forum, said executives would be looking to reopen dialogue with Chinese counterparts.   Rather than having a specific agenda, we are hoping for a space to discuss various matters,  the official said. In late November, China allowed travel agencies in Beijing and Shandong to resume some sales of group tours to South Korea, but tour agencies were told not to include South Korean retail-to-chemicals giant Lotte Group in travel packages.  Lotte, which provided the land where the THAAD system was installed, was hardest hit in the diplomatic standoff.  Its chain of hypermarkets and supermarkets in China were largely shuttered, and it is expected to sell the stores for a fraction of what it invested. The conglomerate previously said it planned to sell the stores by the end of this year, but the talks have been in  a stalemate,  a Lotte Group official said, declining to be identified due to the sensitivities.  Still, the official hoped the summit would ease the way for the planned sales of hypermarkets in China and lead to a full lifting of group tour bans.  We have big hopes about the summit,  the official said.     worldnews
south korean firms flock beijing hoping summit hasen thaw chinaseoul reuters hoping thaw relations china reopen opportunities diplomatic spat earlier year cost many business south korean executives joined president moon start trip china wednesday the delegation largest accompany south korean leader abroad reflected value firms placed ending ties country biggest trading partner trade business exchanges two countries froze earlier year south korea deployed terminal high altitude area defense that system regardless element objections beijing among traveled executives firms hit hardest backlash including notte group cosmetics entertainment firms amorepacific entertainment addressing around chinese south korean businessmen forum beijing moon stressed need build systemic foundation stable economic cooperation moon said expects sign memorandum president xi winning summit thursday step toward negotiations south free trade agreement fta concerning services investments this expected expand entry countries companies service industries revitalize mutual investments said the that disagreement knocked percentage points expected economic growth south korea year resulted lost revenues around billion chinese tourists first nine months year number visitors fell half korean sentiment also battered firms sales entertainment cosmetics cars china multiple officials south korea largest companies told reuters hoped moon visit china would mark next step toward improving ties two governments reached initial agreement late october move past dispute still doubtful whether sudden turnaround business relations would achieved coming days if look earlier cases takes several gradual steps spoken reprisals eased said official korean firm accompanying moon declined identified matter sensitive we hoping key step reuters spoke around south korean firms represented delegation none fresh investment business deal announcements planned instead official game developer remade entertainment co ltd whose ceo attended forum said executives would looking reopen dialogue chinese counterparts rather specific agenda hoping space discuss various matters official said in late november china allowed travel agencies beijing shading resume sales group tours south korea tour agencies told include south korean giant notte group travel packages notte provided land that system installed hardest hit diplomatic standoff its chain supermarkets supermarkets china largely shuttered expected sell stores fraction invested the conglomerate previously said planned sell stores end year talks stalemate notte group official said declining identified due sensibilities still official hoped summit would ease way planned sales supermarkets china lead full lifting group tour bans we big hopes summit official said worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: South Korean firms flock to Beijing hoping summit will hasten thaw with ChinaSEOUL (Reuters) - Hoping a thaw in relations with China will reopen opportunities after a diplomatic spat earlier this year cost many of them business, some 300 South Korean executives joined President Moon Jae-in for the start of his four-day trip to China on Wednesday. The delegation was the largest to accompany a South Korean leader abroad, and reflected the value the firms placed on mending ties with their country s biggest trading partner. Trade and business exchanges between the two countries froze earlier this year after South Korea deployed U.S.-made Terminal High Altitude Area Defense (THAAD) anti-missile system regardless of vehement objections from Beijing.  Among those who traveled were executives from some of the firms hit hardest by the backlash, including Lotte Group and cosmetics and entertainment firms such as Amorepacific and S.M. Entertainment. Addressing around 500 Chinese and South Korean businessmen at a forum in Beijing, Moon stressed the need to  build a systemic foundation for a stable economic cooperation . Moon said he expects to sign a memorandum with President Xi Jinping at a summit on Thursday, a step toward follow-up negotiations of the South Korea-China Free Trade Agreement (FTA) concerning services and investments.  This is expected to expand the entry of both countries  companies into service industries, and revitalize mutual investments,  he said.  The THAAD disagreement knocked about 0.4 percentage points off expected economic growth in South Korea this year and resulted in lost revenues of around $6.5 billion from Chinese tourists in the first nine months of the year, as the number of  visitors fell by half. Anti-South Korean sentiment also battered firms  sales of  entertainment, cosmetics and cars in China.  Multiple officials from South Korea s largest companies told Reuters they hoped that Moon s visit to China would mark the next step toward improving ties after the two governments reached an initial agreement in late October to move past the dispute.  Still, they were doubtful whether a sudden turnaround in business relations would be achieved over the coming days.  If you look at earlier cases, it takes several, gradual steps for unspoken reprisals to be eased,  said an official from a Korean firm accompanying Moon who declined to be identified as the matter was sensitive.   We re hoping this is a key step.  Reuters spoke to around 20 of the South Korean firms represented in the delegation, and none had any fresh investment or business deal announcements planned. Instead, an official at game developer Wemade Entertainment Co Ltd, whose CEO attended the forum, said executives would be looking to reopen dialogue with Chinese counterparts.   Rather than having a specific agenda, we are hoping for a space to discuss various matters,  the official said. In late November, China allowed travel agencies in Beijing and Shandong to resume some sales of group tours to South Korea, but tour agencies were told not to include South Korean retail-to-chemicals giant Lotte Group in travel packages.  Lotte, which provided the land where the THAAD system was installed, was hardest hit in the diplomatic standoff.  Its chain of hypermarkets and supermarkets in China were largely shuttered, and it is expected to sell the stores for a fraction of what it invested. The conglomerate previously said it planned to sell the stores by the end of this year, but the talks have been in  a stalemate,  a Lotte Group official said, declining to be identified due to the sensitivities.  Still, the official hoped the summit would ease the way for the planned sales of hypermarkets in China and lead to a full lifting of group tour bans.  We have big hopes about the summit,  the official said.     worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: south korean firms flock beijing hoping summit hasen thaw chinaseoul reuters hoping thaw relations china reopen opportunities diplomatic spat earlier year cost many business south korean executives joined president moon start trip china wednesday the delegation largest accompany south korean leader abroad reflected value firms placed ending ties country biggest trading partner trade business exchanges two countries froze earlier year south korea deployed terminal high altitude area defense that system regardless element objections beijing among traveled executives firms hit hardest backlash including notte group cosmetics entertainment firms amorepacific entertainment addressing around chinese south korean businessmen forum beijing moon stressed need build systemic foundation stable economic cooperation moon said expects sign memorandum president xi winning summit thursday step toward negotiations south free trade agreement fta concerning services investments this expected expand entry countries companies service industries revitalize mutual investments said the that disagreement knocked percentage points expected economic growth south korea year resulted lost revenues around billion chinese tourists first nine months year number visitors fell half korean sentiment also battered firms sales entertainment cosmetics cars china multiple officials south korea largest companies told reuters hoped moon visit china would mark next step toward improving ties two governments reached initial agreement late october move past dispute still doubtful whether sudden turnaround business relations would achieved coming days if look earlier cases takes several gradual steps spoken reprisals eased said official korean firm accompanying moon declined identified matter sensitive we hoping key step reuters spoke around south korean firms represented delegation none fresh investment business deal announcements planned instead official game developer remade entertainment co ltd whose ceo attended forum said executives would looking reopen dialogue chinese counterparts rather specific agenda hoping space discuss various matters official said in late november china allowed travel agencies beijing shading resume sales group tours south korea tour agencies told include south korean giant notte group travel packages notte provided land that system installed hardest hit diplomatic standoff its chain supermarkets supermarkets china largely shuttered expected sell stores fraction invested the conglomerate previously said planned sell stores end year talks stalemate notte group official said declining identified due sensibilities still official hoped summit would ease way planned sales supermarkets china lead full lifting group tour bans we big hopes summit official said worldnews