Korean Tourism Shifts from Deficit to Surplus
South Korea has recorded a tourism account surplus for the third consecutive month in May, reaching $220.5 million compared to a deficit of $820.2 million in the same month last year. This positive shift is attributed to an increase in the number of foreign tourists and rising tourism income, which reached $2.58 billion. Additionally, the percentage of foreign visitors to Korea increased by 19.4%, while the number of Koreans traveling abroad decreased by 2.1%. This trend is driven by the popularity of "Hallyu" culture and the weakness of the Korean won, with airline ticket prices sometimes rising due to conflicts in the Middle East.
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