KOREAN NET

The Korea Tourism Organization (KTO) on Aug. 13 launched a duty-free shopping promotion through year's end featuring immediate refunds of value-added taxes for foreign tourists. (KTO)

By Aislyu Akhmetzianova

Shopping for foreign tourists in Korea just got more convenient.

The Korea Tourism Organization on Aug. 13 said its venture with Lordsystem and BGF Retail, which runs the convenience store chain CU, offers a system for instant refunds of value-added tax (VAT) to promote duty-free shopping.

The service allows foreign tourists to buy items with the VAT refund amount deducted at the time of purchase, removing the hassle of a separate refund procedure before departing the country.

Cashback benefits from Aug. 13 are launched for foreign tourists who use the service at CU branches.

Tourists can be automatically entered in a lottery when using the service via the mobile passport TripPass at some 570 CU branches nationwide.

Five stores that see many foreign shoppers will also give souvenirs to customers who use the service.

Users can locate stores that offer the quick refund on the KTO's website (visitkorea.or.kr).

aisylu@korea.kr