Surge in Chinese travelers to South Korea boosts bilateral ties, Beijing's state daily says SEOUL, February 11 (AJP) - A surge in travel between South Korea and China is laying the groundwork for stronger bilateral ties, Beijing's state-run newspaper Global Times reported on Wednesday. Quoting South Korean Ambassador to China Roh Jae-heon, the English-language sister newspaper of the People's Daily said, "The number of Chinese visitors to South Korea is expected to exceed 6 million in 2026." The surge is "not merely a recovery in tourism statistics; it serves as a concrete indicator of the deepening economic and people-to-people ties between China and South Korea," it added. Earlier this week, Noh said the South Korean Embassy in China issued about 126,904 visas last month, up 64 percent from a year earlier. The development comes after Beijing began offering visa-free entry for South Koreans in November 2024, and Seoul followed suit with a similar program in September last year. "This trend is underpinned by natural advantages such as geographical proximity, as well as the extensive business exchanges fostered by deeply integrated industrial and supply chains. Furthermore, it reflects the continuous policy efforts of both sides to facilitate bilateral exchanges," the Global Times said. "Tourism is not merely an economic activity but also a process of cultural exchange and communication. Chinese tourists can gain a deeper understanding of South Korea through firsthand experience, while South Korean society enhances its understanding of China by hosting Chinese visitors," it wrote. Pointing to how economic growth has transformed consumers' spending habits in China, it added, "Overseas travel has become a regular lifestyle choice for many Chinese families." 2026-02-11 17:09:24

U.S. Treasury chief: No trade deal with South Korea until National Assembly approves U.S. Treasury Secretary Scott Bessent said there will be no trade agreement with South Korea until its National Assembly approves it. Bessent made the remarks in a CNBC interview on Tuesday local time when asked whether President Donald Trump was raising tariffs on South Korea because it had not approved a trade deal. His comments came as Trump has warned he could restore higher tariffs, citing delays in the National Assembly’s passage of a “special law on investment in the United States.” Bessent was seen as again urging lawmakers to act. “The signal from the Trump administration is: sign the trade agreement,” Bessent said. Asked whether South Korea would face a 25% tariff until parliamentary approval, he did not give a direct answer, saying, “I think this will help move things forward.” Earlier, Trump wrote on Truth Social on Sunday that because South Korea’s legislature had not enacted “our historic trade agreement,” he was raising reciprocal tariffs on autos, lumber, pharmaceuticals and “all other” items to 25% from 15%. But the next day, Trump said the two countries would “work out a solution,” suggesting the tariff increase could be put on hold through talks. * This article has been translated by AI. 2026-01-29 08:57:56

China suspends sanctions on Hanwha Ocean's US subsidiaries SEOUL, November 10 (AJP) - China has suspended sanctions on South Korean shipbuilder Hanwha Ocean for one year, Beijing's Ministry of Commerce said on Monday. The ministry said it decided to halt retaliatory measures against the shipbuilder's five U.S. subsidiaries, after the U.S. suspended its so-called Section 301 measures, which include punitive tariffs on Chinese maritime logistics and other goods. Earlier last month, China imposed sanctions on them to prohibit them from engaging in transactions with Chinese entities, citing their cooperation with the U.S. The affected subsidiaries were Hanwha Philly Shipyard, Hanwha Shipping, Hanwha Ocean USA International, Hanwha Shipping Holdings, and HS USA Holdings. The suspension, which temporarily lifts sanctions on them with immediate effect, came after Chinese President Xi Jinping and his U.S. counterpart Donald Trump agreed on several trade-related issues to ease tensions during a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea's southeastern city of Gyeongju late last month. The shipbuilder expressed relief at the move, saying, "We welcome China's decision and hope the suspension will strengthen our partnerships with Chinese businesses." In particular, Hanwha Phil Shipyard is a key site for the country's "MASGA" (Make America Shipbuilding Great Again) project, which is part of a border tariff-related deal with the U.S. Despite Washington's requirement to use U.S.-made parts for security reasons, some experts had expressed worries that, if China's sanctions were to take effect, the shipbuilder could face difficulties in procuring certain components, such as ship valves, which are monopolized by Chinese companies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-10 15:50:44

China sanctions five Hanwha Ocean subsidiaries in US SEOUL, October 14 (AJP) - The Chinese government said on Tuesday it had imposed sanctions on five U.S.-based subsidiaries of Hanwha Ocean, a South Korean shipbuilding company, in retaliation for a U.S. investigation into China’s maritime and shipbuilding industries. The Chinese Ministry of Commerce said the move was a direct response to Washington’s Section 301 investigation, which Beijing described as “a violation of international economic and trade rules” that undermines the rights of Chinese companies. The sanctions target Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings. The companies are now barred from conducting business or entering into joint ventures with Chinese firms, according to the ministry. Beijing accused the subsidiaries of “supporting and facilitating” U.S. policies that it said threaten China’s sovereignty and national security. Shares of Hanwha Ocean fell 5.76 percent at 103,100 won, Tuesday. Earlier in the session, it dropped as much as 9,600 won to 99,600 won after China announced sanctions against the firm. The announcement adds to escalating maritime trade tensions between the world’s two largest economies. In April, the U.S. Trade Representative imposed new port service fees on Chinese vessels, a move China has since mirrored by applying similar charges on U.S.-flagged ships. Hanwha Ocean, one of South Korea’s leading defense contractors, did not immediately comment on the impact of the sanctions on its operations. The company, formerly known as Daewoo Shipbuilding & Marine Engineering, has expanded its U.S. footprint in recent years through investments in shipyards and logistics subsidiaries. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-14 14:40:04