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The stocks of travel agencies rose in the wake of a final agreement Wednesday ensuring that Koreans can travel to the U.S. visa-free from next year. On Thursday, Hana Tour rose by 2.54 percent, Mode Tour by 0.6 percent, Sejung Namo Tour by 7.54 percent, and Lotte Tour Development by 3.77 percent.
Meanwhile, the stock price of Asiana Airlines rose by 2.24 percent, but Korean Air's fell by 0.99 percent. As only electronic passport holders are entitled to the visa waiver, the stock price of Suprema, a manufacturer of electronic passport readers, soared by 4.62 percent.
Lee Joo-byung, an analyst at HMC Investment Securities, said, "In the mid- and long term, travel agencies' stock prices will rise, but it'll be difficult for the travel agencies to perform significantly considering that domestic business has not yet recovered and the won is still very weak against the dollar."
According to HMC Investment Securities, the number of travelers from the current 27 countries entitled to a visa waiver in the U.S. increased three years after they joined the program. In 13 of these countries, the number of travelers to the U.S. increased by 50 percent.
(englishnews@chosun.com )
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