In the morning of the 18th, shares of domestic cosmetics companies are rising across the board. It is seen as driven by growing expectations for the lifting of the ban on Korean content following news that Chinese President Xi Jinping and Wang Yi, China's Minister of Foreign Affairs, are pushing to visit Korea. The impending visa-free entry of Chinese group tourists later this month is also having an effect.
As of 9:34 a.m. on the 18th, Hankook Cosmetics is trading at 10,860 won on the Korea Exchange, up 710 won (7%) from the previous session.
At the same time, cosmetics companies BBIA, MA:NYO, COSMAX, and TONYMOLY are also seeing their share prices rise.
Minister Cho Hyun of the Ministry of Foreign Affairs said at a meeting with correspondents from Korean media held the previous day at the Embassy of Korea in Beijing, China, "Discussions have been held for President Xi to attend next month's Asia-Pacific Economic Cooperation (APEC) summit," adding, "I felt a visit to Korea was certain." She added that they also decided to push for a visit to Korea by Wang Yi, China's Minister of Foreign Affairs, next month.
Earlier, Minister Cho Hyun of the Ministry of Foreign Affairs visited Beijing, China, the previous day and held her first foreign ministers' meeting since taking office with Director General Wang.