[Asia Economy Reporter Yoo Hyun-seok] Chorokbaem is showing strong performance. The Ministry of Foreign Affairs' announcement to fully restore Korea-China exchanges and cooperation and to make this year the foundation for the future-oriented development of bilateral relations appears to be influencing the stock price.
As of 11:03 AM on the 22nd, Chorokbaem was trading at 2,505 KRW, up 15.44% (335 KRW) compared to the previous trading day.
The Ministry of Foreign Affairs emphasized that it will actively utilize the 2021-2022 Korea-China Cultural Exchange Year to fully restore cultural exchanges between the two countries, raising expectations that the Hanhanryeong (Korean restrictions on Chinese culture) might be completely lifted following the THAAD incident.
Regarding Chinese President Xi Jinping's visit to Korea, there was confidence expressed that it will be pursued as soon as the COVID-19 situation improves.
A senior official from the Ministry of Foreign Affairs said at a meeting with reporters the day before, "The cancellation of President Xi's visit last year was not due to a lack of political will between the two countries," adding, "It was because the infectious disease environment caused by COVID-19 persisted."
He continued, "The Ministry of Foreign Affairs' position is to continuously promote President Xi's visit," and added, "I would like to say that there are no disagreements with our Chinese counterparts."
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