By Ralph Jennings
Published Jan 9, 2025
With the political crisis in South Korea unlikely to abate, analysts say China's businesspeople
and travellers are assessing their options
China's traders, investors and tourists are likely to pause and examine the risks of South
Korea's prolonged political turmoil in the months ahead, analysts said - with some possibly
halting their business or activity outright until more stable circumstances present themselves.
As investigators try to detain South Korean President Yoon Suk-yeol over his declaration of
martial law in early December, neither an end to the saga nor clarity about the country's next
leader is in sight.
But the strife in Seoul is denting Chinese people's interest in travelling to South Korea,
especially after the deadly crash of a Jeju Air flight on December 29, said Subramania Bhatt,
CEO of travel marketing and technology company China Trading Desk.
Bhatt's firm has tracked a 10 to 12 per cent reduction in bookings from China for the Korean
budget airline, he said, adding some Korean travel agencies have suspended online
advertising and other promotional activities in China.
The Chinese embassy in Seoul has asked its citizens to avoid political activity in South
Korea.
South Korea became the second most popular foreign market for Chinese tourists last year
behind Japan, with 3.18 million visiting from January to September per figures from the
Korea Tourism Corporation.
A unanimous vote of the Korean National Assembly quickly overturned the imposition of
martial law, South Korea's first since its democratisation in 1987. Yoon was impeached on
December 14.
Korea's state anti-corruption agency and police tried to detain Yoon at his official residence
on January 3 but stopped after a stand-off with presidential security staff, the country's
Yonhap news agency reported.
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