[THE INVESTOR] Local duty-free shopping by foreigners has rebounded this year after a dismal drop last year, data showed July 29.

Statistics provided by the Korean Duty Free Association said shoppers purchased an average US$207 worth of goods at stores in the first half of this year, up from $200 in the same period last year. Foreigners bought $345 worth, compared with $337 last year. Locals purchased an average of $123, also up from $111 the previous year.

Sales at duty-free shops plummeted last year as travelers shunned visiting Korea, which was battling the Middle East respiratory dyndrome outbreak that swept through the country starting in May. The industry was the most severely hit as the number of Chinese visitors, the biggest client at the shops, fell.

It was the first time that the industry witnessed a sales drop.

KDFA data said sales at South Korean duty-free stores reached $869.68 million in June, an 84.3 percent jump from the same month last year. The amount of purchases by foreigners more than doubled from $269.2 million to $624.57 million during the period.

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