Shopping sector scrambles to welcome Chinese shoppers following visa-free policy

Korea’s shopping sector is preparing to welcome Chinese tourists as the government’s visa-free policy for Chinese nationals goes into effect on Sept. 29, raising anticipation for a stronger influx of visitors to Seoul. Businesses are introducing new payment methods and product lineups to better cater to Chinese tourists. The companies, understanding that the domestic market alone is not enough to sustain their businesses, are betting big on the foreigners who have long been major customers here. Under the visa policy, Chinese nationals in tour groups of three or more people can visit Korea without a visa and stay up to 15 days. The policy is set to be in place until June 30 next year. With China’s National Day and Mid-Autumn Festival falling within the statutory holiday period of Oct. 1 to 8, the policy is expected to widely open the doors for Chinese visitors to the Korean market. One of the most popular shopping sectors for international travelers is duty free stores. Four major Korean firms in the sector, three of which saw operating deficits in the second quarter, are desperat