South Korea Boosts Shopping Tax Refunds for Foreign Tourists Starting Next Year to Promote Tourism | WPN World People News

In the wake of the epidemic, many countries have launched policies to attract tourists. Choo Kyung-ho, South Korea's Vice Prime Minister for Economic Affairs and Minister of Planning and Finance, said yesterday that the tax rebate for foreign tourists will be doubled from January next year to attract overseas tourists and revitalize the tourism industry.

Choo Kyung-ho said that from Jan. 1 next year, the maximum amount of tax-refundable purchases at departure tax rebate stores that foreign tourists can enjoy per person per trip will be raised to 1 million won from the existing 500,000 won for a single trip, and to 5 million won in total from 2.5 million won, respectively. There is no restriction for travelers to purchase tax-refundable goods at the departure halls of airports.