The Chinese enclave of Daerim-dong in southern Seoul has undergone a transformation over the last few years from slum to bustling commercial district.

The 200 m stretch from exit No. 8 at Daerim subway station to exit No. 12 now bustles with ethnic Koreans from China and Chinese migrant workers every night, crowding into the Chinese restaurants and karaoke bars that line the street.

Store owners say business is booming. Kim Soon-hee (54), an ethnic Korean from China, struck gold when she opened restaurants serving Chinese hot pot and sweet-and-sour pork.

Three years after opening her first two restaurants, Kim opened another two and invited her daughters to live with her in Korea. "There are a lot of merchants in Daerim-dong who made enough money to bring their families here," she says.

One estate agent in Daerim-dong said, "Stores in key locations here have seen the rent more than double over the last three years to rival those of Itaewon at W7-8 million per 99 sq.m (US$1=W1,108)."