# South Korea retail foreign sales growth

> Live situation record from CLSTR: https://clstr.news/situations/south-korea-retail-foreign-sales-growth
> Updated: 2026-08-05T01:26:54.000Z. Sources: 6. Developments: 3.

South Korea’s major retailers have continued to deepen their reliance on inbound tourism spending. By mid‑July, Shinsegae, Lotte and Hyundai reported foreign‑customer sales for the first half of 2024 up 120 % year‑on‑year, putting each chain on track to exceed the 1 trillion‑won annual foreign‑sales mark. Chinese shoppers fell to under half of the foreign buyer mix, while visitors from the United States and other Asian markets rose sharply, and membership programmes now cover more than 300 000 members from 120 countries.

Convenience‑store chain GS25 confirmed a 136.9 % jump in foreign‑payment revenue at its coastal tourist outlets, driven by summer visitors purchasing snacks, travel accessories and prepaid cards. The chain has expanded services such as instant tax refunds, foreign‑currency kiosks and support for WeChat Pay, Alipay and UnionPay.

A Bank of Korea report released in early August showed the three department‑store chains together logged 1.72 trillion won in foreign‑tourist sales for H1 2024 – about 80 % of their combined 2023 foreign‑tourist revenue. Growth is now concentrated in city‑center stores, reflecting a shift from duty‑free to K‑fashion, beauty and experiential retail. The report highlighted tourism’s modest contribution to GDP (1.17 %) and called for a 25 % expansion of tourism export to raise average spend and stay length.

Overall, the data illustrate a widening and deepening of foreign‑sales momentum across department stores and convenience formats, underpinned by changing visitor demographics and targeted payment and service innovations.

## Timeline

### 2026-08-05: South Korean department stores log 1.7 trillion won in foreign tourist sales

South Korean department stores posted over 1.7 trillion won in foreign tourist sales in H1 2024, while the Bank of Korea urges a 25 % boost in tourism export to match Japan’s GDP share.

2 sources. https://clstr.news/cluster/south-korean-department-stores-log-17-trillion-won-in-foreign-tourist-sales

### 2026-07-20: GS25 foreign sales surge 137% at South Korea’s coastal tourist stores

GS25’s foreign payment revenue at about 100 coastal stores rose 136.9% YoY in July, driven by a surge in overseas tourists; the retailer offers WeChat Pay, Alipay promotions and tax‑refund services.

3 sources. https://clstr.news/cluster/gs25-foreign-sales-surge-137-at-south-koreas-coastal-tourist-stores

### 2026-07-13: South Korean Department Stores Near 1 trillion KRW Annual Foreign Sales

Shinsegae, Lotte and Hyundai department stores posted record foreign‑sales in H1 2024, together edging toward a 1 trillion KRW annual total as Chinese shoppers fell and US and SE Asian visitors rose.

4 sources. https://clstr.news/cluster/south-korean-department-stores-near-1-trillion-krw-annual-foreign-sales

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Cite as: South Korea retail foreign sales growth. CLSTR, https://clstr.news/situations/south-korea-retail-foreign-sales-growth