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SEOUL, Korea, April 27, 2022 (GLOBE NEWSWIRE) — Konnect, a project based in Seoul, Korea that provides a cryptocurrency-based membership service, is using blockchain to create new flow within the stagnant duty-free distribution market. The duty -free distribution market includes business models that integrate tourism, shopping, services, and entertainment within various duty-free shops. This industry has grown explosively in recent years. However, the recent COVID-19 pandemic has caused a contraction in the duty-free market, leading to its current stagnancy.
In terms of market share in the duty-free distribution, Korea was the most productive country, becoming known as a duty-free powerhouse after earning over $25 million in transaction revenue in 2019 alone. To break through this stagnant era in this industry, Konnect is making innovative breakthroughs amid rapidly changing market…
Full story available on Benzinga.com
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