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Local Duty Free Shops Post Record High Revenue in July

Written: 2016-08-23 10:17:41Updated: 2016-08-23 10:18:09

Local Duty Free Shops Post Record High Revenue in July

Duty free shops in South Korea posted over 900 million U.S. dollars in revenue last month, reaching a record high. 

According to the Korea Duty Free Association on Tuesday, local duty free shops sold a combined 953-point-six million dollars worth of products in July, including 267-point-85 million dollars to locals and 637-point-51 million dollars to foreigners.

It marks a four-point-one percent on month rise and is the highest revenue figure since the association began compiling related data in January of 2009.

It is also nearly double the figure posted in July last year, when the domestic economy was hit hard by the outbreak of the deadly Middle East Respiratory Syndrome(MERS).

The number of the customers using local duty free shops has also hit a record high last month at four-point-33 million, up by four-point-two percent from June and a whopping 56-point-one percent increase from a year earlier. 

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