April 17, 2017 09:13
Sales at duty-free shops dropped last month largely due to a Chinese boycott of Seoul for deploying a Terminal High-Altitude Area Defense battery from the U.S.
According to the Korea Customs Service on Sunday, total sales at the nation's duty-free stores came to US$927 million in March, down 19 percent from February.
Major duty-free shops saw up to 40 percent decline after March 15, the day China banned cut-price shopping tours to Korea.
The industry is looking for ways to minimize the market impact, delaying opening of new stores and seeking extensions on their tax payments.
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