Sales of South Korea’s duty free shops are showing signs of recovery in spite of China's ongoing economic retaliation over Seoul's decision to deploy the U.S. THAAD antimissile system.
The Korea Duty Free Shops Association said on Saturday that the combined sales of local duty-free stores from international customers increased five-percent on-month in June to 688 million U.S. dollars, marking a rise for the second straight month.
The number of foreign visitors to the shops also increased three-point-nine percent to one-point-06 million over the cited period.
Sales rebounded in May after plunging for two straight months in the wake of China’s travel ban on March 15. However, June sales from international visitors decreased 22 percent compared to February.
The association representing local duty-free stores say that it will take more time for the industry to fully recover.