Cruise ship visitors eligible for immediate internal tax refunds starting next week

Foreign tourists visiting Korea on cruise ships will be able to receive a refund of internal taxes on goods purchased at local duty-free stores starting next week, the customs agency said Friday.

2026-04-03

Subway congestion could fall by up to 9.5% with limited free rides for older adults: Study

A government study found that limiting free subway rides for adults aged 65 and older during rush hours could reduce congestion by up to 9.5 percent, with President Lee Jae Myung calling for a review of the decades-old policy.

2026-04-01

BOK to raise risk-free KOFR share in market to 70% by 2030

Authorities will raise the share of the risk-free Korea Overnight Financing Repo Rate in key market transactions to 70 percent by 2030 as part of efforts to attract more global investment and strengthen confidence in the domestic financial market.

2026-03-30

Through the looking glass: AI turns theater dialogue into floating subtitles

Renting glasses at a theater once meant one thing: watching a 3-D movie. Now the practice is crossing into the performing arts — this time to read subtitles.

2026-03-14

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

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.

2026-03-13

Companies look for ways to revive duty-free industry

Korea’s duty-free industry, once a cash cow for major conglomerates, is rapidly losing its shine. A decade ago, corporations fiercely competed for licenses to operate duty-free stores; now, they are eager to abandon the sector.

2026-02-22

Lotte, Hyundai selected as new duty-free zone operators at Incheon Int'l Airport

Incheon International Airport Corp., operator of Korea's main gateway, has selected Lotte Duty Free and Hyundai DF as candidates for duty-free zone operators vacated by two other retailers.

2026-02-02

Lotte Hotel, Hyundai DF split rights on Incheon Airport's most lucrative duty-free zones

Lotte Hotel and Hyundai DF have split the rights to operate the most lucrative duty-free zones at Incheon International Airport, ending a high-stakes bidding process closely watched by the retail industry.

2026-01-30

Lotte, Hyundai submit bids for duty-free operations at Incheon airport

Lotte Duty Free and Hyundai DF have submitted bids for duty-free zone licenses vacated by two other operators at Incheon International Airport, industry sources said Tuesday.

2026-01-21

Korea, Egypt agree to push for economic partnership talks

Korean Trade Minister Yeo Han-koo and his Egyptian counterpart officialized the two countries' commitment to push forward with negotiations for a comprehensive economic partnership agreement (CEPA), Yeo's office said Monday.

2026-01-19

korea joongAng daily