Sales at South Korean duty-free stores hit a new monthly high in November, industry data showed Dec. 30.
The combined sales of local duty-free shops reached 2.29 trillion won ($1.98 billion) last month, compared with the previous monthly record of 2.24 trillion won in September, according to the data from the Korea Duty Free Shops Association.
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The sales increase was due to increased travelers from China during its Singles’ Day that fell on Nov. 11.
The number of foreigners visiting local duty-free shops came to 1.73 million last month, compared with 1.8 million a month earlier, the data showed.
However, the amount spent by foreign visitors at the shops came to 1.96 trillion won in November, compared with 1.86 trillion won tallied a month earlier.
By Ram Garikipati and newswires (ram@heraldcorp.com)