South Korea’s duty-free retail sales reached 1 trillion Korean won ($680 million) in February, up 4.8% month-on-month and 9.3% YoY, despite declining foot traffic. Sales to foreign customers rose 10.1% YoY to 763.5 billion KRW ($519 million), even as visitor numbers dropped nearly 12%. However, year-to-date figures show overall duty-free sales fell nearly 22% YoY, with foreign visitor spending down 26.9%, reflecting a drop in per-customer spending. Facing ongoing market challenges, Hyundai Duty Free will close its Dongdaemun store in July, and luxury brands including Cartier, Tiffany, Gucci, and Louis Vuitton plan to exit Seoul’s Lotte World Duty Free. Meanwhile, airport duty-free sales fell 7% from January but rose 16.9% YoY, with the market still largely driven by overseas shoppers.