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Duty-free sales down by nearly 50 percent compared to 2019 levels

Published: 13 Mar. 2026, 18:39

Bulk shoppers are seen waiting in front of Lotte Duty Free's Myeongdong Main Branch in Jung District, central Seoul, before opening hours on Nov. 20, 2025. [YONHAP]

Total sales at local duty-free stores last year have almost halved from six years earlier, in part due to the depreciation of the Korean won and a drop in demand from Chinese resellers, government data showed Friday.

Sales at duty-free stores in Korea totaled 12.5 trillion won ($8.4 billion) in 2025, down by 49.6 percent compared to 2019, when the figure stood at 24.8 trillion won, according to data from the Ministry of Finance and Economy.

The figure fell sharply to 15.5 trillion won in 2020 and has remained under the 20 trillion-won mark since, according to the data.

Amid a prolonged slump in sales, the finance ministry held a management committee meeting on duty-free stores Friday with relevant ministries to check businesses conditions.

The government cited the won's weakness, changes in consumption patterns and falling demand from Chinese resellers as some of the reasons behind the sales drop, vowing to come up with support measures.

Yonhap