Chamjoeun Travel and Yellow Balloon hit the upper limit right after the market opened,
China has decided to include nine countries, including South Korea, in its visa-free pilot policy starting the 8th. As a result, ordinary passport holders from these nine countries can visit China for up to 15 days for business, travel, tourism, visiting relatives or friends, or transit without needing a visa. The photo shows a travel agency in Seoul on the afternoon of the 3rd. [Photo source: Yonhap News]
Following the news that China included South Korea in its visa exemption list, travel and airline stocks showed strong performance at the start of trading.
According to the Korea Exchange, as of 10:12 a.m. on the 4th, Chamjoeun Travel and Yellow Balloon stocks hit the upper limit.
Chamjoeun Travel and Yellow Balloon saw a sharp rise in stock prices immediately after the market opened, trading at 6,070 KRW and 5,780 KRW, respectively.
At the same time, ModeTour (16.91%) and Hanatour (7.71%) also showed high growth rates.
In the airline sector, Jeju Air (8.3%), T’way Air (6.46%), and Jin Air (4.63%) are climbing steeply.
Korean Air and Asiana Airlines also saw a rise of 3.18% and 2.13% respectively, driven by favorable news from China and upcoming merger expectations.
On November 1st, China announced the implementation of a ‘unilateral visa-free policy’ for ordinary passport holders from nine countries, including South Korea, Slovakia, Norway, Finland, Denmark, Iceland, Andorra, Monaco, and Liechtenstein, effective until December 31 of next year.
This means ordinary passport holders from our country can visit China for up to 15 days for business, travel, tourism, visiting relatives or friends, or transit without a visa.
It is the first time China has included South Korea in its visa-free list. The travel industry expects an increase in trips to China due to the reduced time and cost associated with visa issuance.