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S.Korea's duty-free sales hit 6-month low in July

SEOUL
2022-09-02 16:18

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SEOUL, Sept. 2 (Xinhua) -- South Korea's duty-free sales hit a six-month low in July owing to lower foreign spending, industry data showed Friday.

Revenue among local duty-free shops stood at 1.25 trillion won (918 million U.S. dollars) in July, down 14.6 percent from the previous month, according to the Korea Duty Free Shops Association.

It marked the lowest since January as foreigners spent less amid the continued COVID-19 pandemic.

Foreigners spent 1.12 trillion won (822 million dollars) in duty-free stores in July, down 16.1 percent from a month earlier.

The duty-free spending by local visitors inched up to 130.6 billion won (96 million dollars) in July from 129.9 billion won (95 million dollars) in June.

The number of foreign visitors to duty-free shops was 134,417 in July, topping 100,000 for the second consecutive month.

The number of domestic duty-free shoppers reached this year's monthly high of 833,058 in July.
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