The retailer has sought to improve profitability following several years of pressure from intense competition in the South Korean duty-free market. Shinsegae said international visitor numbers at its flagship Myeong-dong duty-free store in central Seoul increased strongly during the second quarter. Group sales for the January-to-June period rose 10.1% to KRW6.36trn (US$4.5bn), while operating profit increased 75.7% to KRW365bn, with both reaching record highs. Second-quarter group sales reached KRW3.14trn, up 8.5% year on year, while operating profit more than doubled to KRW167.1bn. Shinsegae’s department stores were a major contributor, with second-quarter sales rising 15.5% to KRW2.02trn and operating profit increasing 53.5% to KRW108.8bn.