China partially lifts ban on group tours to South Korea
China partially lifts ban on group tours to South Korea:- China National Tourism Administration will allow travel agencies in Beijing and Shandong to resume sales of group tours to South Korea, Yonhap News Agency reported on Tuesday, citing an industry official.
The official said the travel ban would be in place in other regions for now and be gradually lifted depending on the regions, going forward, Yonhap reported.
Shares rose of companies that would benefit from the lifting of the ban, with Asiana Airlines gaining 3.4 percent and duty free store operator Hotel Shilla up 3 percent. Casino operator Paradise rose 4 percent.
China had banned all group tours to South Korea since March in the wake of Seoul’s decision to install a U.S.-backed anti-missile system, a move Beijing vehemently opposed.
But a late October agreement by Seoul and Beijing to move past the dispute had boosted hopes group tours may be allowed in the near future.
The tour agencies in Beijing and Shandong have, however, been told they should not include Lotte Group’s hotel unit and duty free as part of their travel packages to South Korea, according to the report.
Lotte, South Korea’s No.5 conglomerate, has faced a major setback in China after the group provided the land for the U.S. Terminal High Altitude Area Defense system. Most of Lotte’s hypermarkets in China were shut down after fire inspections.
Officials at Korea Tourism Organization and Korea’s tourism ministry said they are checking the Yonhap report.
Source:- https://in.reuters.com/article/sourthkorea-china-tour/china-partially-lifts-ban-on-group-tours-to-south-korea-yonhap-idINKBN1DS0BH
