Weak won pushes duty-free prices above regular store levels

Weak won pushes duty-free prices above regular store levels

The weakening of the won against the U.S. dollar at an accelerating pace is leading to higher prices for luxury goods at duty-free stores compared to regular stores, according to industry officials Monday. As items at duty-free stores are priced in dollars, they are becoming more expensive when converted to the won. The Korean currency is persistently remaining at the 1,400-won range per dollar, a worrisome threshold. The won closed at 1,477.1 w…