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Korean duty-free stores newly opened in Seoul are losing money as heavy marketing costs erode profits. A review of financial documents from the major players show heavy competition is taking its toll on all players. Five duty-frees stores opened new shops in…
Korea will allow four more duty-free shops to open in Seoul to meet growing demand from Chinese tourists, the government announced Friday. “Four new licenses will be issued for operation in Seoul, while the city of Busan and Gangwon Province will also get one…
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