Most Popular

1
[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
2
Yoon seeks rebound, taps 5-term lawmaker as chief of staff
3
[Exclusive] Korean military set to ban iPhones over 'security' concerns
4
Medical standoff deepens as doctors reject new med school plan, talks
5
[Herald Interview] Why Toss invited hackers to penetrate its system

6
[Graphic News] 77% of young Koreans still financially dependent
7
Korean, Romanian leaders discuss defense tech, nuclear energy
8
S. Korean envoys convene to navigate strategy amid Middle East tensions
9
North Korea fires several short-range ballistic missiles into sea: JCS
10
Samsung, SK hynix investors dump shares on Nvidia crash

NewsletterSubscribe

Start your day with a roundup of key stories from The Korea Herald with news and comment on all that’s happening in Korea.

Seoul to issue four more duty-free licenses

By KH디지털2

Published : April 29, 2016 - 15:37

- Link copied

(Yonhap)

The South Korean government said Friday that it will issue four additional licenses to operate duty-free shops in Seoul in a bid to meet rising demand from Chinese tourists for non-taxable goods.

The Korea Customs Service (KCS) said it will pick four local retailers to let them open new duty-free shops in Seoul, adding to the current nine.

Duty-free stores, mostly run by retail giants, such as Lotte Group, posted a combined 9.2 trillion won ($8 billion) in sales last year, with an average 15.1-percent growth over the past decade, on the back of robust demand from Chinese tourists. (Yonhap)

Seoul to issue four more duty-free licenses

More from Headlines