Estimated sales loss of South Korean duty free shops from COVID-19 outbreak 2020

 In February 2020, Shilla Duty Free’s Seoul store was expected to see a loss of around 100 million U.S. dollars if it closes for 14 days with respect to the novel coronavirus (Covid-19). Due to the worsened situation of the novel coronavirus, Shilla Duty Free and Lotte Duty Free have decided to temporarily close the stores for professional disinfection.

Also, it was expected that South Korea will see an economic loss of around 2.9 trillion South Korean won in tourism revenue in Q1 2020. As of March 2, 2020, South Korea confirmed the 4,212nd case of infection.