[Featured Stock] Travel Stocks Surge on News of Visa-Free Entry to China

As China allows visa-free entry for South Korean citizens, stocks in the travel industry are showing strong performance.

At 1:51 PM on the 4th, Chamjoeun Travel was trading at 6,070 KRW, up 29.98% from the previous day, and Norangpungseon was trading at 5,780 KRW, up 29.89%.

On the 1st, the Chinese Ministry of Foreign Affairs announced that it will implement a unilateral visa-free policy until December 31 of next year for holders of ordinary passports from nine countries, including South Korea, Slovakia, Norway, Finland, Denmark, Iceland, Andorra, Monaco, and Liechtenstein.

Accordingly, holders of ordinary South Korean passports can visit China for business, travel and tourism, visiting relatives or friends, or transit purposes for up to 15 days without obtaining a visa.

Oh Jeong-ha, a researcher at Meritz Securities, noted, "Visa exemption is usually reciprocal between countries," adding, "There is a possibility that South Korea will also allow visa-free entry for Chinese nationals."