'South Korea plans to offer bigger tax refunds to foreign tourists,' Finance Minister Choo Kyung-Ho

Finance Minister Choo Kyung-Ho stated that the government wants to increase the tax refunds by a huge amount.

Currently, tax refunds are available up to a total of 2.5 million won and a maximum local purchase amount of 500,000 won (US$370).

The strategy is intended to help South Korea’s small companies in regard to an increase in foreign tourists.

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