Enjoy duty-free shopping at traditional markets
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Three markets in Busan have been designated as duty-free shopping areas
Busan will launch its “Duty Free Traditional Markets for Foreigners” from next year. A tax-refund system will be in use at traditional markets including Bujeon Ginseng Market, as pictured above.
Traditional markets provide an opportunity to experience a city’s culture and gain an insight into the lives of its citizens.
They are must-visit locales for travelers.
Local and overseas tourists visiting Busan have long been introduced to diverse customs and have enjoyed shopping at the city’s traditional markets.
But soon these tourists will be able indulge in more benefits because Busan, for the first time in Korea, will offer duty-free shopping at traditional markets. Busan Metropolitan City has chosen three venues - Bujeon Gingseng Market, Gold Theme Street and Renecite21 as “Duty Free Traditional Markets for Foreigners” to introduce a tax-refund system from next January.
Bujeon Ginseng Market sells different types of ginseng, including red ginseng, Gold Theme Street specializes in jewelry and Renecite21 is a hub for clothing and cosmetics.
Each of these markets is extremely popular among foreign tourists.
Under the duty-free system, travelers from overseas can receive a tax-refund statement at each market stall after purchasing a product. When they leave Korea, the traveler can receive confirmation that the product is exiting the country at airport customs and can collect value-added tax and consumption tax back at the airport refund window.
A traveler from overseas refers to a non-Korean tourist who has stayed in Korea for under six months or an overseas Korean who has stayed in Korea for under three months.
Busan is the first place to adopt this kind of marketplace tax-free system for foreign tourists in Korea.
Busan City has also designated Renecite21 as the first market to install automated tax-refund machines for the convenience of foreign tourists.
Renecite21 is a type of traditional market that is similar to a shopping mall. It is adjacent to Gimhae Airport.
Through use of the machines, overseas tourists visiting Busan can spend less time at the airport customs office.
Busan City plans to set up tax-refund statement dispensing machines in shops at individual markets by the end of the year while completing the system by installing a central refund processing center at Renecite21. After analyzing the performances of the three markets, the city will expand the system to other tourist-friendly traditional markets such as Jayu Market, Pyeonghwa Market and Gukje Market.
The source of news: Dynamic Busan
