S. Korea letting shoppers buy duty-free straight after landing at Incheon International Airport
For those who like a spot of shopping at the airport,... South Korea's largest airport has opened duty-free stores in the arrival zone,... eliminating the need to travel with things you bought before you left Korea.
Oh Soo-young reports
Starting on Friday at 2PM, Korea time, you can buy duty free as soon as you land at South Korea's main airport,... not just last minute before you leave the country.
Incheon International Airport is opening three duty free stores near the baggage claim,... two in terminal one and the other inside terminal two.
Operated by SM Duty Free and Entas Duty Free,... the stores will sell products from ten categories,... including cosmetics, perfumes and liquor.
Excluded items include tobacco products,... although e-cigarette devices will be on sale.
Fruit and other agricultural goods also won't be on the shelves.
There is also a cap on purchases a limit of 600 U.S. dollars for both Koreans and foreigners.
For Koreans travelling abroad,... however,... that's the maximum tax exemption they can get on total purchases made at duty-free stores at arrivals, departures as well as in-flight stores and shops overseas.
Tax waivers will be applied on Korean-made products first.
Local shoppers can spend an extra three-thousand dollars in duty free stores, or overseas, which will be subject to duties.
Before leaving the security area,... locals must report their purchases,... if they exceed the duty-free limit,... and pay a 30-percent tax on the goods,... with up to 125 dollars deducted.
If unreported,... a duty of 40 percent will be applied upon discovery.
Special duty-free products which include liquor, perfume, and cigarettes will not have taxes applied,... regardless of the amount purchased.
Amid the anticipation,... Finance Minister Hong Nam-ki says the government is considering raising the duty-free spending limit,... as the 3-thousand dollar bar was set more than ten years ago.
Hong added officials will also review the 600-dollar tax exemption limit,... after observing how the arrivals stores are run over the next six months.