[Market Focus] Airline Stocks Surge on Hallyu Ban Easing Hopes... Air Busan Up Over 8%

On May 7, airline stocks rose on expectations that China will lift the 'Hallyu Ban' (restrictions on Korean pop culture).

As of 9:30 a.m. on this day, Air Busan was trading at 2,215 won, up 170 won (8.31%) from the previous trading day.

In addition, most airline stocks were showing gains, including Korean Air (7.14%), Jin Air (5.69%), Jeju Air (4.43%), and T'way Air (3.71%).

This appears to reflect optimism that Chinese travel sentiment will recover, as the Chinese government has recently shown signs of lifting the Hallyu Ban.

Since the end of last year, the Chinese government has begun to ease restrictions by permitting performances by Korean singers in China. Last month, the three-member hip-hop group Homies and singer-actor Kim Jaejoong held concerts and fan meetings in China. In addition, this year, the longest-running K-pop festival in Korea, 'Dream Concert,' is scheduled to be held in China.