South Korea’s tourism boom is entering a new phase as record visitor arrivals and a recovering Chinese market test whether a more diversified industry can generate durable economic value even as the won strengthens.

The latest figures show that the rebound is still accelerating. South Korea received 2.09 million foreign visitors in July, the first time monthly arrivals surpassed 2 million, up 20.8% from a year earlier and 44.6% from July 2019. Chinese visitors accounted for about 777,000 arrivals, the largest national group, while total arrivals reached 12.8 million in the first seven months of 2026.

That recovery coincides