Korea-China Summit Boosts Retailers’ Hopes of Reentering Chinese Market
Creatrip Team
2 months ago
South Korean President Lee Jae-myung met Chinese President Xi Jinping in Beijing for a state visit — the first Korean presidential state visit to China in about eight years. The leaders signed over ten memorandums of understanding (MOUs) and expressed intent to fully restore bilateral ties, prompting optimism in Korea’s retail, fashion and travel sectors about easing of the informal ban on Korean pop culture (hanryeong). Fashion brands like MUSINSA and Fashion Group Hyungji are accelerating offline expansion in China — MUSINSA has opened stores in Shanghai and plans dozens more across major shopping districts over the coming years — while companies such as Cosmax are formalizing beauty market entry. Duty-free and tourism operators expect increased Chinese visitor flows if diplomatic thaw leads to relaxed restrictions, though industry insiders caution regulatory relief is not guaranteed and any reopening will likely be gradual.
