SEOUL, Nov. 14 (Korea Bizwire) — South Korean companies enjoyed increased sales during Chinese Singles’ Day over the weekend, signaling the end of China’s year-long THAAD retaliation. Sales at major duty-free stores including Lotte and Shilla increased by up to 30 percent among Chinese customers, while sales at online shopping giants Gmarket and Global Hmall nearly [...]
SEOUL, Nov. 13 (Korea Bizwire) – Lotte Duty Free, South Korea’s top duty-free operator, said Monday it has tapped K-pop boy band BTS as its newmodel, as local retailers aim to attract more foreign customers amid a normalization of ties between Seoul and Beijing over a U.S. missile defense system. Including BTS, Lotte Duty Free has 58 K-pop celebrities, including actor Lee Min-ho and K-pop girl group TWICE, as its model, according to the company. The duty-free operator’s [...]
SEOUL, Oct. 31 (Korea Bizwire) — Lotte Duty Free, South Korea’s top duty-free operator, said Tuesday it will officially open a new outlet at a Vietnamese airport, making a foray into the Southeast Asian market. The outlet at Da Nang International Airport will begin full-fledged operations Wednesday, it said. In June, Lotte clinched a joint [...]
SEOUL, Sept. 18 (Korea Bizwire) — The operator of Incheon International Airport is likely to snub calls from Lotte Duty Free, the country’s top duty-free operator, to adjust its rental fees, industry sources said Monday, amid the ongoing diplomatic row between Seoul and Beijing over the deployment of a U.S. missile system here. Last week, [...]
SEOUL, Sept. 4 (Korea Bizwire) — Lotte Duty Free, South Korea’s top duty-free operator, is considering withdrawing from Incheon International Airport, a company source said Monday, as the local duty-free industry is struggling to cope with the impact of a diplomatic row between Seoul and Beijing over the deployment of a U.S. missile defense system [...]
SEOUL, Aug. 31 (Korea Bizwire) — Representatives of duty-free shops at Incheon Airport have called on the airport officials to consider dropping the price of rent temporarily amid China’s economic retaliation over the South Korean deployment of a THAAD anti-missile system, which has had a devastating impact on the local tourism industry. According to industry sources, [...]
SEOUL, Aug. 16 (Korea Bizwire) – Hotel Lotte Co., a hotel and duty-free unit of South Korean retail giant Lotte, saw its operating profit nosedive in the first six months of this year, data showed Wednesday, amid an ongoing diplomatic row between Seoul and Beijing over the deployment of a U.S. missile defense system here. [...]
SEOUL, Jun. 23 (Korea Bizwire) — As China’s ongoing package tours ban to South Korea continues to hit Lotte Duty Free hard, senior officials at the company are now in full damage control mode, with executive board members returning a tenth of their salary in a bid to overcome the critical situation. Lotte Duty Free [...]
SEOUL, June 16 (Korea Bizwire) – Lotte Duty Free, South Korea’s top duty-free operator, said it opened an outlet in central Bangkok on Friday, making its first foray into the key Southeast Asian market. The shop, located inside entertainment and retail complex Show DC, is only partially operational at the moment, with the grand opening [...]
SEOUL, June 1 (Korea Bizwire) – Lotte Duty Free, South Korea’s top duty-free operator, said Thursday it has set up a new outlet at a Vietnamese airport, making a foray into the Southeast Asian market. Lotte clinched a joint venture deal with a Vietnamese counterpart to co-run Phu Khanh Duty Free at the Da Nang [...]