Duty-free store sales soar 36% in first nine months: Yonhap

Park Sae-jin Reporter Posted : 2016-10-20 15:40 Updated : 2016-10-20 15:40
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[Yonhap News Photo]

Sales at South Korea's duty-free stores rose 36.4 percent in the first nine months of this year from a year earlier on increased buying by foreign tourists, especially Chinese, data showed Thursday.

Sales at 50 duty-free stores nationwide came to 8.93 trillion won (7.9 billion US dollars) in the January-September period, compared with 6.55 trillion won a year ago, according to data compiled by Korea Customs Service.'

If the current sales trend continues, annual sales at the duty-free stores could top 10 trillion won for the first time this year. Foreign goods accounted for 59.5 percent of the sales while the rest were South Korean products.

Data showed that 20.9 million South Koreans bought products at the duty-free stores during the first nine months, accounting for 57.2 percent. In comparison, 15.6 million foreigners enjoyed shopping at the duty-free stores, or 42.8 percent of the total users.

Still, per capita spending by foreigners came to $350 while that of South Koreans reached $106.