November 21, 2018 08:29
Duty-free shops' sales soared despite China's continued curbs on group tours to Korea.
According to the Korea Duty-Free Shops Association, sales reached an all-time high in the first nine months of this year of US$12.9 billion, exceeding the $12.8 billion posted for the whole of 2017.
Total revenues in October alone were over $1.4 billion. The record was set despite dwindling numbers of Chinese tourists after Beijing banned group tours in retaliation for the deployment of a Terminal High-Altitude Area Defense battery here last year.
But individual Chinese vendors who buy duty-free goods for resale keep coming on shopping sprees, offsetting the damage from the ban.
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