SEOUL Dec 17 South Korea chose four firms
including the world's third-largest duty-free operator, Lotte
Duty Free, to grant new duty-free store licenses in downtown
Seoul, the country's customs agency said on Saturday.
Korea Customs Service said in a statement the four companies
also include affiliates of Shinsegae Inc and Hyundai
Department Store Co Ltd.
South Korea, which overtook Britain as the world's largest
duty-free market in 2010, has seen duty-free sales nearly double
in four years to 9.2 trillion won ($7.9 billion) in 2015 from
5.37 trillion won in 2011.
(Reporting by Hyunjoo Jin and Joyce Lee; Editing by Dale