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Duty-free Sales from Japanese Visitors Up Despite Military Tension

Duty-free Sales from Japanese Visitors Up Despite Military Tension

SEOUL, Jan. 27 (Korea Bizwire) — South Korean duty-free stores saw their sales from Japanese consumers rise sharply on-year in January despite the on-going military tension between the two countries, apparently on the back of the strong Japanese yen, industry sources said Sunday. Sales from Japanese consumers at a Lotte Duty Free shop in Seoul’s [...]

Survey of Tourists’ Top Buys in Airport Duty Free Shops

Survey of Tourists’ Top Buys in Airport Duty Free Shops

SEOUL, May 24 (Korea Bizwire) — Red ginseng was the most popular product among Chinese shoppers at Korea’s airport duty-free shops, according to a survey by Shinsegae Duty Free’s Incheon Airport branch. In addition, Japanese visitors favored dried laver products, while Southeast Asian tourists said they liked “Honey Butter Almond” products the most. According to [...]

Bidding Begins for Duty-Free Licenses at Incheon Airport

Bidding Begins for Duty-Free Licenses at Incheon Airport

SEOUL, April 13 (Korea Bizwire) – The operator of Incheon International Airport put up a notice of tender for the licenses to run duty-free shops at South Korea’s main gateway on Friday, it said, after retail giant Lotte decided to pull out following a plunge in the number of Chinese tourists. The business rights will be valid for five years, with the launch of [...]

South Korean Businesses Cautiously Optimistic Over Expectations China Relations Will Improve

South Korean Businesses Cautiously Optimistic Over Expectations China Relations Will Improve

SEOUL, Oct. 27 (Korea Bizwire) – Speculation that the recently held 19th National Congress of China’s Communist Party would lead to a gradual easing of tensions between China and South Korea is building hope among local tourism and duty-free businesses. The relationship between the two neighboring countries turned icy after the installation of U.S. missile [...]

Duty-Free Store Openings Postponed in Fear of Chinese Retaliation Over THAAD

Duty-Free Store Openings Postponed in Fear of Chinese Retaliation Over THAAD

SEOUL, June 1 (Korea Bizwire) – Amid fears of further Chinese economic retaliation over the South Korean deployment of a THAAD missile defense system, duty-free stores that were scheduled to open soon are scrambling to postpone their opening date. Last week, the Korea Duty Free Shops Association (KDFA) made an official request to the Korea Customs [...]

Warning Labels to Be Added to Cigarettes Sold at Duty Free Shops

Warning Labels to Be Added to Cigarettes Sold at Duty Free Shops

SEOUL, South Korea, March 23 (Korea Bizwire) – Graphic warning labels printed on tobacco packages will now be seen on packages of cigarettes sold at duty free shops. The Ministry of Strategy and Finance (MOSF) announced Wednesday that cigarette products exported from foreign countries for sale at duty free stores will also be subject to the [...]

Experts Call for Overhaul on Tourism amid THAAD Row

Experts Call for Overhaul on Tourism amid THAAD Row

SEOUL, March 19 (Korea Bizwire) – South Korea’s tourism needs to revamp itself to reduce its dependency on China and grow into an industry that creates more added value, experts said Sunday, amid rising tension with the neighboring country over the deployment of a U.S. anti-missile system.  Local tourism is expected to suffer a major [...]

S. Korean Firms Fret About China’s THAAD Threat

S. Korean Firms Fret About China’s THAAD Threat

SEOUL, Feb. 23 (Korea Bizwire) – South Korean companies and duty-free shops remain jittery over China’s threats that the deployment of a high-tech U.S. missile defense battery on South Korean soil would wreak havoc on their business, industry sources said Thursday.  With Seoul and Washington pushing ahead with the deployment in defiance of China’s strong [...]