In another new initiative to revitalise South Korea’s tourism industry, foreigners will be able to get on-the-spot tax rebates when shopping at more than 8,000 stores.
The Ministry of Culture, Sports and Tourism said it is in response to the sluggish tourism recovery following the MERS outbreak in the summer and is aimed primarily at high spending Chinese travellers who often visit in large tour groups specifically to shop.
The new rule will begin from January 1, 2016, meaning an end to long queues at customs tax rebate offices at airports.
For purchases of KRW30,000 or more 10% VAT and from 5-20% consumption tax will be waived at point of sale at eligible stores.
During the outbreak the number of tourists from China alone dropped by 700,000 in just two months.
