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.

The Israeli army issued new evacuation orders for several towns and villages in the south. Fighting between Hezbollah and Israeli forces has persisted despite a ceasefire that took effect on April 17. The Israeli army reported that a Hezbollah drone wounded two soldiers in northern Israel, one severely, while another drone attack injured a soldier in occupied southern Lebanon.

Hezbollah said it carried out multiple attacks in response to alleged Israeli ceasefire violations, including missile strikes on a military base and an army vehicle. Al Jazeera reporting from Tyre described a significant escalation, with air strikes and artillery fire intensifying along the coast over the past 12 hours.

Since hostilities began on March 2, Lebanese authorities say 2,759 people have been killed and 8,512 injured.

Ceasefire A second round of negotiations between Israel and Lebanon is scheduled for May 14 and 15 in Washington. The initial mid-April talks produced a U.S.-brokered ceasefire. The U.S. Department of State said the upcoming discussions would focus on lasting peace, Lebanese sovereignty, border delineation and reconstruction pathways.

Lebanese President Joseph Aoun met with the diplomat who will lead the delegation to Washington. Lebanese Prime Minister Nawaf Salam said the government aims to halt attacks, secure prisoner releases, set a withdrawal timetable and enable displaced persons to return.

The government intends to serve as the sole negotiating party and is seeking American guarantees for sovereignty. Salam added that Lebanon remains committed to restricting weapons to the state alone. Hezbollah opposes direct talks with Israel, preferring indirect negotiations, while the Lebanese government faces pressure to engage directly and disarm the group.

The country remains divided on the issue decades after its civil war ended in 1990.