On the morning of the 3rd, shares of Yellow Balloon Tour are strong. This comes as news emerged that the government is considering an indefinite extension of the visa-free policy for Chinese group tourists until the end of this year.
As of 9:20 a.m. on the 3rd, Yellow Balloon Tour is trading at 5,970 won, up 260 won (4.55%) from the previous trading day in the KOSDAQ market. It briefly rose over 14% in early trading, reaching 6,510 won.
At the same time, shares of Lotte Tour Development, Very Good Tour, and Modetour Network are also on the rise.
The buying momentum is interpreted as driven by news that the government is considering extending the visa-free policy for Chinese group tourists, which was initially planned to be temporarily applied.
Previously, the government was reported to allow temporary visa-free entry for Chinese group tourists during the upcoming third quarter. This was pursued as a reciprocal measure after the Chinese government allowed Korean tourists visa-free access for 15 days for the first time in November last year.