South Korea's duty-free store operators are set to impose purchase limits on customers to crack down on proxy buying and hoarding.
The Korea Customs Service recently rolled out an instruction that individual purchases at the duty free stores are limited to 10 bags and watches, and up to 50 cosmetics and perfumes of a single brand, The Korea Economic Daily reported on Saturday.
The newspaper said the restriction will be carried out this year, yet no specific date was disclosed.
Korea's customs office said the policy is aimed at regulating the market to prevent the illegal transaction and distribution of duty-free goods and to allow every customer an equal chance to shop.
Some are concerned that the restriction will shrink duty-free sales, especially among Chinese customers.
Chinese spending on South Korean beauty products has exploded as the country's beauty goods gained rising popularity in China in recent years. According to business intelligence firm L2's "The Beauty China: The Rise of Korean Brands - Insight Report", Western skincare and color cosmetics have seen shares erode while interest in South Korean beauty products is skyrocketing and now accounts for nearly a quarter of cosmetic imports to China.
