Back To Top

Duty-free sales up for 2nd month in June but still below pre-pandemic level

(Yonhap)
(Yonhap)

Duty-free sales rose for the second straight month in June, but their sales still remained half of pre-pandemic figures, industry data showed Monday.

Combined sales at duty-free shops in South Korea reached 1.11 trillion won ($923 million) in June, up 9.3 percent from a month earlier, according to the Korea Duty Free Shops Association.

It marked the second straight month of gains since the figure fell below 1 trillion won for the first time in four years in April.

Local duty-free operators were struggling in the face of the COVID-19 pandemic as the virus outbreak disrupted air travel.

"The rise in the June sales appears to be affected by an increase in duty-free purchases by Chinese vendors," a duty-free store official said. "But the sales still remained half of the revenues recorded before the virus outbreak."

In June, the number of visitors to duty-free stores reached 572,457, up 22.6 percent from the previous month, the data showed.

The number of foreign visitors declined, but more Koreans used duty-free shops, mainly those located on the southern resort island of Jeju, where locals are allowed to buy duty-free products.

Since June, duty-free operators have begun to sell duty-free goods that have been in stock for more than six months via local sales channels. The government permitted them to begin domestic sales of duty-free items to prop up the pandemic-hit segment.

The domestic sales of duty-free goods were not calculated in their sales figures as they went through customs clearance, an industry official said. (Yonhap)
MOST POPULAR
LATEST NEWS
leadersclub
catch table
Korea Herald daum
subscribe