[Featured Stock] Global Tax Free Rises on Expectations of Xi Jinping's Visit to Korea in March

[Asia Economy Reporter Yoo Hyun-seok] Global Tax Free is on the rise. It appears to be influenced by media reports that Chinese President Xi Jinping may visit South Korea in March.

As of 9:54 AM on the 9th, Global Tax Free was trading at 4,075 KRW, up 4.76% (185 KRW) compared to the previous trading day.

On the 7th, a media outlet reported that President Xi would visit South Korea in March on a solo schedule. In response, on the same day, Blue House spokesperson Ko Min-jung sent a message to reporters stating, "Nothing has been decided yet, and President Xi's visit to Korea is under consultation between Korea and China."

Global Tax Free operates a tax refund agency business. The tax refund business acts as an agent for foreign tourists applying for tax refunds using post-tax-free shops and collects agency fees.

Meanwhile, starting in April, the immediate refund limit for post-tax-free shops for foreign tourists will be increased. The immediate refund limit for post-tax-free shops, which previously exempted VAT and individual consumption tax within the limit of 300,000 KRW per transaction and less than 1,000,000 KRW per person, has been expanded to 500,000 KRW per transaction and less than 2,000,000 KRW in total.

This content was produced with the assistance of AI translation services.