[Featured Stock] Global Tax Free Rises on Expectations of Benefits from Exemption of Self-Quarantine for Foreign Entrants

[Asia Economy Reporter Jang Hyowon] Global Tax Free is showing strength following the announcement of quarantine exemption for foreign arrivals.

As of 3:20 PM on the 1st, Global Tax Free is trading at 3,520 KRW, up 2.47% from the previous day.

According to the government announcement on the day, foreign arrivals who have been vaccinated are exempt from quarantine measures. This means foreign tourists can travel within the country without quarantine. This news is analyzed to have contributed to the strong performance of Global Tax Free, the nation's leading tax refund (domestic tax refund agency) company.

Global Tax Free was the first in Asia to start tax refund agency services and operates refund businesses for post-tax-free shops (department stores, outlets, luxury brand stores, etc.). Tax refund services simplify the process for foreign tourists who would otherwise have to individually apply for tax refunds at the National Tax Service and reduce the refund collection period.