S.Korea says to allow 4 more downtown Seoul duty-free licences

SK Networks Co

29/04/2016 07:01

SEOUL, April 29 (Reuters) - South Korea, the world's largest 
duty-free market, will allow four more duty-free store licences 
in downtown Seoul and will pick operators by end of this year, 
the country's customs agency said on Friday.  
    The decision could allow Lotte Duty Free, world's 
3rd-largest duty free operator, to resume operations of its 
second-largest duty free shop that made 600 billion won ($527.73 
million) in 2015 sales and faces a shutdown by end-June. 
 
 (Reporting by Joyce Lee; Editing by Gopakumar Warrier) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: SOUTHKOREA DUTYFREE/