Lotte Duty Free is offering early retirement packages as it continues to struggle with pandemic-related woes.
Duty-free companies will soon no longer be able to enjoy cheaper rent at Incheon International Airport as the airport cuts down on discounts starting next year as international travel recovers.
Cosmetics and duty-free stocks are rising as China, one of their biggest markets, eases some Covid-19 restrictions — and Chinese tentatively prepare to return to a more normal life.
Shinsegae Duty Free announced it will end online sales of its unsold inventory, as travel picks up around the world.
Shinsegae Inc. reported a net profit of 82.2 billion won ($62.7 million) in the second quarter, jumping 394 percent on year.
Foreign investments in Korean government bonds will be exempt from taxation, according to Finance Minister Choo Kyung-ho.
Shinsegae reported an expectation-beating net profit of 150.9 billion won ($118.2 million), up 69.2 percent on year.
Hyundai Department Store beat expectations with a 75.4-billion-won ($59 million) net profit in the first quarter, up 35.1 percent on year, as shoppers returned.
Duty-free stores are getting ready for more customers as the tourism industry comes back to life.
Chanel will close two duty-free stores in Busan and Jeju Island on Thursday.
Korea JoongAng Daily Sitemap
