Stockpiled Duty-Free Goods, Domestic Sales Extended Until Year-End

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The domestic sale of duty-free goods accumulated in inventory will be extended until the end of the year.

The Korea Customs Service announced on the 27th that the third-party return of inventory duty-free goods, which was scheduled to operate until the 28th of this month, will be extended until the end of the year.

However, the extension period will continue only if no separate guidelines are issued by the Korea Customs Service.

The Korea Customs Service explained that this decision was made considering the continued decline in sales in the duty-free industry due to the impact of the novel coronavirus disease (COVID-19).

Along with the extension of the domestic sales period, the management of duty-free goods will also be strengthened. The Korea Customs Service plans to review and promote measures such as having foreign buyers who have pre-registered with customs send duty-free goods at designated delivery points before departure as an alternative to third-party returns.

A Korea Customs Service official said, “We ask for active cooperation from the duty-free industry, distribution industry, and suppliers so that the extension of the domestic sales period for duty-free goods can lead to employment stability for duty-free shops and their partner companies.”

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