SEOUL: South Korea will offer visa-free entry to tourist groups from China, for a temporary period from September 29 through June 2026, to boost foreign tourism ahead of an Asia-Pacific summit, the government said on Wednesday (Aug 6).
The visa-free offer was first announced in March after China's decision last November to offer a visa exemption to South Koreans and foreign visitors from other countries.
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It also comes amid expectations that ties between the two countries will improve under the new South Korean administration of liberal President Lee Jae Myung.
The decision to introduce the measure ahead of a Chinese holiday period in early October will help boost the domestic economy amid a recovery in foreign visits, the tourism ministry said, after a meeting to discuss measures to revitalise tourism ahead of the Asia-Pacific summit.
South Korea will host a summit of leaders from 21 economies for the Asia-Pacific Economic Cooperation (APEC) forum from October 31 to November 1 in the southeastern city of Gyeongju, a gathering where Chinese leader Xi Jinping and U.S. President Donald Trump might hold separate talks.
Shares of South Korean department stores, casinos, hotels and beauty product makers rallied on hopes of a boost from Chinese demand.
Hyundai Department Store (069960.KS), opens new tab shares jumped 7.1%, Hotel Shilla (008770.KS), opens new tab rose 4.8%, casino operator Paradise (034230.KS), opens new tab climbed 2.9% and Hankook Cosmetics (123690.KS), opens new tab surged 9.9%. - Reuters
