What: Korea is already reaping the fruits of the borders reopening.

Why it is important: The trends might give an idea of what is next for international department stores once Chinese customers start travelling again outside of Asia.

South Korea sees an uptick in sales as international shoppers are coming back. Hanwha Galleria reports that its luxury section has increased sixfold when compared to the previous semester, even though the proportion of foreign customers is still below the prepandemic levels (5% vs 15%).

Similar trends are noted by Lotte (sales to international customers increased +590% yoy) and Hyundai (+1142.8%).

Chinese customers account for the most, followed by Southeast Asians, Americans and Japanese.

Korean department stores see a rebound in sales