The impending termination of a long-running tax incentive that powered South Korea’s booming cosmetic surgery clinics risks driving away cost-conscious foreigners to destinations like Singapore and dealing an economic blow to the local medical tourism sector, industry groups have warned.
South Korea launched the 10 per cent value-added tax (VAT) refund scheme in 2016 for visitors going under the knife for procedures such as facelifts, skin revitalisation, breast augmentation and double-eyelid…
