South Korea’s government abolished the old duty free allowance for outbound local tourists in an attempt to boost the travel retail industry in the home of Jeju Island, one of the New 7 Wonders of Nature.
The latest legislation abolishes the $5,000 duty free allowance from 2019 with the aim of benefitting Korean travellers while visiting Korean duty free shops.
According to the authorities, the main objective is to “boost domestic consumption and also help Korean travel retailers build up their competitiveness when overseas travel returns to normal”.