We examine tcg 카드 게임 economic effect of tcg 카드 게임 diplomatic conflict between South Korea and China that resulted from tcg 카드 게임 joint decision by South Korea and tcg 카드 게임 U.S. to deploy tcg 카드 게임 Terminal High-Altitude Area Defense system in tcg 카드 게임 Korean peninsula. Using tcg 카드 게임 syntcg 카드 게임tic control method, we estimate tcg 카드 게임 conflict’s effects on Chinese tourists to Korea and stock prices of China-related Korean firms. We find that a negative effect on tcg 카드 게임 inflow of tourists appeared with a lag of 3 months after tcg 카드 게임 announcement of tcg 카드 게임 decision and persisted for approximately 18 months. By contrast, tcg 카드 게임 effects on tcg 카드 게임 stock market appeared immediately but were insignificant and short-lived.