SEOUL, Sept. 21 (Korea Bizwire) — The government plans to unveil a set of measures to open duty-free shops in arrival terminals later this month at the earliest part of its effort to reduce discomfort experienced by tourists and boost domestic consumption, the finance ministry said Friday. The measures would come after President Moon Jae-in [...]
SEOUL, Aug. 10 (Korea Bizwire) — Shinsegae DF Inc., the duty-free arm of South Korean retail giant Shinsegae, said Friday it is ramping up marketing efforts to lure more Chinese tourists as the company moves to expand its presence in the country’s duty-free market. Shinsegae DF said it has partnered with Ctrip to allow consumers [...]
SEOUL, Apr. 3 (Korea Bizwire) — Operating profits of South Korea’s duty-free shops declined sharply in general last year due to the cutthroat competition to attract Chinese tourists, and over Beijing’s economic retaliation against the deployment of a U.S. anti-missile defense system here, industry sources said Tuesday. Chinese travel agencies have suspended sales of tour [...]
SEOUL, Jan. 31 (Korea Bizwire) — Local duty-free shops are offering exclusive incentives for Chinese tourists, hoping to attract them during the Lunar New Year holiday next month, industry officials said Wednesday. The Feb. 15-21 holidays overlap with the 2018 PyeongChang Winter Olympics taking place in South Korea’s eastern alpine region from Feb. 9-25 as [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korean duty-free shops are still smarting from China’s retaliation against Seoul over the deployment of a U.S. defense shield here with their profitability worsening despite rising sales, industry sources said Sunday. In mid-March, China banned the sale of group tours to Seoul in retaliation against the installation of [...]
SEOUL, Sept. 29 (Korea Bizwire) – South Korea has postponed the opening of new duty-free shops by one year amid a diplomatic row between Seoul and Beijing over a missile defense system, industry sources said Friday. In December last year, the Korea Customs Service (KCS) announced six new operators of duty-free shops in Seoul and two provincial cities, giving them 12 months to prepare to open their shops. The KCS [...]
SEOUL, Sept. 3 (Korea Bizwire) — South Koreans spent more at duty-free shops this year after the government widened tax breaks last year, while domestic consumption remained in the doldrums, a survey showed Thursday. According to the survey conducted by online travel agency Expedia on 1,000 salaried workers between the ages of 20 and 49 in the [...]