Recently, the regulatory scheme regarding Korean duty-free shop has been one of the hotly debated issue in Korea, Under current regulations on duty-free shop, the operating party has to be approved from the government by getting patent license, Furthe...
Recently, the regulatory scheme regarding Korean duty-free shop has been one of the hotly debated issue in Korea, Under current regulations on duty-free shop, the operating party has to be approved from the government by getting patent license, Furthermore, the patent period is restricted under 5 years term, Due to these kind of strong regulatory restrictions, many licensees in Korea which has held strong competitiveness in global duty-free market are going through, From this perspective, this paper tries to figure out regulatory improvement plan finally in order for Korean business players acting in this field to recover their global competitiveness, First suggestion is abandonment of current patent licensing process similar to other competing countries, Furthermore, we recommend the extension of the business period in that currently approved period of 5 years is not fit to the duty-free shop business because the business requires in its characteristic of business long-term period investment, Finally, current business charging standard needs to be reformed to secure the rationality, Considering current economic crisis in Korea, the duty-free shop regulations need to be improved in order to mitigate the business parties`regulatory burdens, We are sure that this regulatory reform would also contribute the vitalization of Korean national economy in the future.