Visa-free Entry Period Extended from 15 to 30 Days,
Passengers heading to gates for boarding at Incheon International Airport on the morning of the 30th. 2024.6.30/News1 © News1 Byung-bae Lee,
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, ‘(Seoul=News1) Reporter Kim Jeong-hyun = On the news of the Chinese government extending the visa-free entry period for Koreans, travel-related stocks showed strong performance in early trading on the 25th.’,
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, ‘According to the Korea Exchange, as of 9:28 AM on this day, Chamjoon Travel (094850) was trading at 5,210 won, up 265 won (5.36%) from the previous day.’,
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, ‘Modetour (080160) rose by 3.81%, Yellow Balloon Tour (104620) by 3.25%, and Hana Tour (039130) by 0.35%.’,
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, ‘This is interpreted as a consequence of the announcement made by the Chinese government on the 22nd that the visa-free entry period for Korean ordinary passport holders will be extended from the current 15 days to 30 days.’,
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, ‘The Chinese Ministry of Foreign Affairs spokesperson announced in a regular briefing that within the current visa-free program, the visa-free entry period for 38 countries, including Korea, will be extended from 15 days to 30 days.’,
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, “The purpose of visa-free visits, previously specified as business, tourism, and visiting relatives, has also had ‘exchange visits’ added.”,
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, ‘It is considered that the background of this unilateral visa-free policy by China is to boost tourism and trade as a way to escape the economic downturn.’,
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, ‘Researcher Lim Su-jin from Daishin Securities analyzed, “The travel industry is expected to see growth in operating revenue with the increase in Chinese package sales due to Chinese visa exemption by 2025,” and added, “This year, high performance growth is anticipated due to the base effect of one-time expenses caused by unexpected issues.”