duty-free shops Archives | Be Korea-savvy
Luxury Brands Withdraw from Downtown Duty-free Shops in S. Korea

Luxury Brands Withdraw from Downtown Duty-free Shops in S. Korea

SEOUL, Feb. 10 (Korea Bizwire) — A group of luxury brands that have benefited from post-pandemic ‘revenge spending’ are withdrawing from downtown duty-free shops in South Korea, dealing a blow to related industries. Chanel, for example, decided to suspend the operation of its stores within the Lotte Duty Free branch in Busan and the Shilla [...]

Lotte, Shilla to Begin Domestic Sales of Duty-free Products Next Week

Lotte, Shilla to Begin Domestic Sales of Duty-free Products Next Week

SEOUL, June 19 (Korea Bizwire) — South Korea’s two leading duty-free operators will begin to sell duty-free products through local retail channels next week as the government has decided to temporarily permit such sales to help the pandemic-hit sector, company officials said Friday. Industry leader Lotte Duty Free and its rival, Shilla Duty Free, plan [...]

Duty-free Products Hit Domestic Shelves amid Pandemic-caused Biz Slump

Duty-free Products Hit Domestic Shelves amid Pandemic-caused Biz Slump

SEOUL, June 3 (Korea Bizwire) — South Korean duty-free operators began to sell duty-free products through local retail channels Wednesday as the government has decided to temporary permit such sales to help the pandemic-hit sector. Shinsegae International Inc. started to sell duty-free items of four luxury brands, including Balenciaga and Bottega Veneta, on its online [...]

More Virus-hit Duty Free Shops, Others Given Deep Cut in Rental Fee

More Virus-hit Duty Free Shops, Others Given Deep Cut in Rental Fee

SEOUL, June 1 (Korea Bizwire) — South Korea will expand the reduction of rental fees for airport duty-free shops and other commercial facilities hit hard by the new coronavirus outbreak, the transport ministry said Monday. State-run Korea Airports Corp. (KAC) and Incheon International Airport Corp. (IIAC) will cut rental fees for duty-free shops, banks, restaurants [...]

Duty-free Shops to Reopen This Week After Virus Disinfection

Duty-free Shops to Reopen This Week After Virus Disinfection

SEOUL, Feb. 5 (Korea Bizwire) — Several South Korean duty-free shops that temporarily shut down after people infected with Wuhan coronavirus visited them will reopen later this week, their operators said Wednesday. Shilla Duty Free, one of the country’s leading duty-free stores, on Sunday closed its two outlets in central Seoul and on the southern [...]

Hanwha and Doosan Withdraw from Duty-free Business Due to Low Profitability

Hanwha and Doosan Withdraw from Duty-free Business Due to Low Profitability

SEOUL, Oct. 30 (Korea Bizwire) — Duty-free shops are shutting down as sales have plunged. Doosan Corp., the holding company of South Korean conglomerate Doosan Group, announced on Tuesday that it will shut down its duty-free shops located in Seoul’s Doosan Tower. This is the second time a duty-free store decided to withdraw from business [...]

S. Korean Duty-free Operators Going Abroad for Another Boom

S. Korean Duty-free Operators Going Abroad for Another Boom

SEOUL, Jun. 24 (Korea Bizwire) — After years of struggle in the face of a decline in Chinese tourists and increased competition, South Korea’s duty-free operators are in search of a more stable and sustainable business portfolio — to reduce their reliance on Chinese visitors and generate decent profits. The country’s duty-free business has raked [...]

Seoul to Unveil Plans for Arrival Duty-free Shops

Seoul to Unveil Plans for Arrival Duty-free Shops

SEOUL, Sept. 21 (Korea Bizwire) — The government plans to unveil a set of measures to open duty-free shops in arrival terminals later this month at the earliest part of its effort to reduce discomfort experienced by tourists and boost domestic consumption, the finance ministry said Friday. The measures would come after President Moon Jae-in [...]

Shinsegae DF Accelerates Marketing Efforts to Attract Chinese Tourists

Shinsegae DF Accelerates Marketing Efforts to Attract Chinese Tourists

SEOUL, Aug. 10 (Korea Bizwire) — Shinsegae DF Inc., the duty-free arm of South Korean retail giant Shinsegae, said Friday it is ramping up marketing efforts to lure more Chinese tourists as the company moves to expand its presence in the country’s duty-free market. Shinsegae DF said it has partnered with Ctrip to allow consumers [...]