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The Korea Herald
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THE INVESTOR
March 29, 2024

Retail & Consumer

New duty-free outlets to postpone launch

  • PUBLISHED :May 31, 2017 - 13:36
  • UPDATED :May 31, 2017 - 13:36
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[THE INVESTOR] Duty-free operators preparing to open new stores in Korea this year will likely put off their plans as the industry is struggling with falling tourists amid the THAAD row with China, industry sources said on May 31.

The Korea Duty Free Shops Association asked the state customs agency last week to allow them to postpone the scheduled openings of three new stores, including those in Seoul, according to the association.

“We’ve formally asked the Korea Customs Service to consider permitting a delay on the opening dates due to increased uncertainties surrounding China’s retaliation against THAAD,” an association official said.

The number of inbound Chinese visitors tumbled 40 percent in April, the Korea Tourism Organization said.

KCS said it will discuss the matter at the licensing committee meeting slated for late June, adding that “the decision will be made in a way that best reflects the industry’s request.”

The three shops include the ones for which Shinsegae DF, Hyundai Department Store Duty Free and Top City won the license last year.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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