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![Pictured is the first basement floor of Shinsegae Duty Free's branch in Haeundae District, Busan, on Jan. 20. The branch will close on Jan. 24, Yonhap News reported, following declining profits across the duty-free industry. [YONHAP]](https://image.koreajoongangdaily.com/10408176.jpg?imageId=10408176&width=240&height=184&format=webp&format=jpg)
![Shinsegae's Centum City Mall branch in Haeundae District, Busan, is pictured on March 1, 2016, two days before its grand opening. Its duty-free store is considering closing down due to weak sales and the exodus of major brands. [SONG BONG-GEUN]](https://image.koreajoongangdaily.com/12475681.jpg?imageId=12475681&width=240&height=184&format=webp&format=jpg)
![Shinsegae Duty Free and Chanel unveiled the largest podium in the Asia-Pacific region dedicated to the fashion brand's 'Winter Tale' collection within Incheon International Airport’s Terminal 2. [SHINSEGAE DUTY FREE]](https://image.koreajoongangdaily.com/10278010.jpg?imageId=10278010&width=240&height=184&format=webp&format=jpg)
![Boy band TWS has been named the ambassador of Shinsegae Duty Free. [SHINSEGAE DUTY FREE]](https://image.koreajoongangdaily.com/10223527.jpg?imageId=10223527&width=240&height=184&format=webp&format=jpg)
![Shinsegae Department Store in Gangnam, southern Seoul [SHINSEAGE DEPARTMENT STORE]](https://image.koreajoongangdaily.com/11753567.jpg?imageId=11753567&width=240&height=184&format=webp&format=jpg)
![New Shinsegae Duty Free CEO Ryu Sin-yul. [SHINSEGAE GROUP]](https://image.koreajoongangdaily.com/12101458.jpg?imageId=12101458&width=240&height=184&format=webp&format=jpg)
![Signs informing customers of the closing of the store stand at the front door of Lotte Duty Free on Jeju Island on June 1. [YONHAP]](https://image.koreajoongangdaily.com/11206062.jpg?imageId=11206062&width=240&height=184&format=webp&format=jpg)