Insights | Korean scholar applauds China's visa-free cross-border payment policies

Ahn Inhwan, professor at the Asian Studies College of Beijing Foreign Studies University and vice president of the Korean Confucian Studies Association, told China News Network that the recent visa-free policies between China and South Korea have facilitated people-to-people exchanges and strengthened cultural ties.

He also highlighted that Alipay has partnered with Kakao Pay to enable cross-border payments, making it easier for Korean tourists to travel and shop in China. Chinese cities such as Shanghai and Beijing are particularly popular among South Korean visitors and are expected to attract even more tourists in the future.

The 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting was held in Gyeongju, South Korea in recent days. Ahn pointed out that the APEC advocates multilateralism and free trade. For South Korea, a country with a relatively small domestic market and an export-oriented economy, multilateralism and free trade are of vital importance. (Gong Weiwei)