Tag - with an average 15.1-percent growth over the past decade.

Up to 4 new duty-free shops to be permitted in Seoul

The Korean government will announce as many as four local retailers that will be allowed to open new duty-free shops in Seoul next week in a bid to meet the growing demand from Chinese tourists, government sources said Thursday. 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. As the government has put policy priority on boosting the [...]

Read more...