South Korea's Visa-Free Entry: A Boost to Tourism and Economy
South Korea will introduce a visa-free entry for Chinese tourist groups from September 2023 to June 2026, aiming to enhance tourism ahead of an upcoming Asia-Pacific summit. The move follows China's reciprocal visa exemption for South Koreans and is expected to strengthen bilateral ties and impact South Korea's economy positively.
South Korea has announced a visa-free entry initiative for Chinese tourist groups, set to run from late September 2023 until June 2026. This strategic move aims to invigorate foreign tourism in anticipation of an Asia-Pacific summit, according to the government's statement on Wednesday.
The visa waiver was initially revealed in March, as a response to China's decision last November to exempt South Korean and other foreign visitors from visa requirements. The initiative coincides with hopes for improved bilateral relations under South Korea's new president, Lee Jae Myung.
The introduction of visa-free entry just before a major Chinese holiday seeks to boost South Korea's domestic economy, recovering foreign visitations, and preparing for the Asia-Pacific Economic Cooperation (APEC) forum in late October. The tourism ministry highlighted the positive market response, with shares in South Korean retail and hospitality sectors experiencing significant gains.
(With inputs from agencies.)
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