Seoul retailers cash in on Xi's visit

Leading retailers in South Korean capital Seoul made no secret of their delight at President Xi Jinping's visit to South Korea, or rather the chance to attract high-spending Chinese customers.  [Special coverage]

Two major shopping malls, Hyundai and Lotte, offered discounts for Chinese customers in the name of Xi's visit on Thursday and Friday, South Korean media reported.

The Hyundai department store expressed a "warm welcome" to Xi and his wife Peng Liyuan on Thursday, saying an additional 5 percent discount will be offered if customers use their China UnionPay cards.

Not to be outdone, Lotte ran a large advertisement in a local newspaper saying "How happy we are, to meet friends from afar! Long Live the South Korea-China friendship" and also offered special discounts for Chinese customers from Thursday to July 7.

China is the biggest source of tourists to South Korea. Chinese tourists are spending more money and staying longer in the country than ever before.

They are the highest-spending visitors to Seoul and some of the most important customers for outlets and shopping centers, a report compiled by the Hyundai Research Institute said in December.

According to the Hyundai stores, the money Chinese customers spent there in the first half of this year soared by 183.5 percent on the previous year.