LVMH's Arnault Visits Seoul Stores as US Treasury Secretary Travels to Asia

LVMH Chairman and CEO Bernard Arnault is set to visit South Korea next week, marking his first trip in three years, industry sources said on Saturday. 's flagship department store in central Seoul on Monday. He also plans to visit other Louis Vuitton locations at department stores operated by Lotte Group.

South Korea ranks among the world's highest per capita spenders on personal luxury goods, with estimated spending reaching $325 in 2022 according to Morgan Stanley. The visit comes as the luxury sector continues to target high-spending markets in Asia.

Diplomatic Travel Aligns With Trump-Xi Summit Preparations U.S.

Treasury Secretary Scott Bessent is expected to arrive in Seoul on Wednesday for a single-day visit, diplomatic sources said. He will hold talks with Finance Minister Koo Yun-cheol and other senior South Korean officials on foreign exchange markets and broader economic issues.

Bessent will then travel to China to prepare for a summit between President Donald Trump and Chinese President Xi Jinping scheduled for Thursday and Friday. Foreign media reports indicate Bessent is first scheduled for a three-day visit to Japan starting Monday, where he is expected to meet with the prime minister and the Bank of Japan governor.

The itinerary reflects ongoing coordination among major economies ahead of the Trump-Xi meeting.

A strike in the town of Toura in the Tyre district on Friday killed four people, including two women, and injured eight others. Rescue operations continued to search for a missing girl under rubble, while bodies of two young men were recovered from strikes the previous day in Blat.

Raids also targeted districts including Nabatieh, Bint Jbeil and Sidon. An Israeli army drone struck a car in the Hasbaya district, killing a civil defence member. Lebanon's Ministry of Health reported 50 people killed in Israeli strikes over the 24-hour period.