SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s two leading duty-free operators have bid for the right to sell cigarette and liquor products at Singapore’s Changi Airport, an industry tracker said Tuesday. No. 1 Lotte Duty Free and second-largest Shilla Duty Free submitted their bids to operate tobacco and liquor concessions at Changi’s four terminals [...]
SEOUL, Nov. 16 (Korea Bizwire) – The duty-free stores that have newly opened in Seoul have seen operating losses this year as heavy marketing costs in the highly competitive market eroded their profitability, their financial documents showed Wednesday. Five duty-frees stores opened new shops in the capital city after winning licenses in two bids — [...]
SEOUL, Sept. 28 (Korea Bizwire) – Shinsegae Group and a joint venture between Shilla Hotel and Hyundai Development said Wednesday that they will apply for a new duty-free license to open new stores in Gangnam, the most affluent district in the capital city. HDC Shilla Duty Free said it has picked iPark Tower in Gangnam, [...]
SEOUL, Nov.28 (Korea Bizwire) – A five-year cycle to pick duty-free shop operators within Incheon International Airport has returned again, forewarning fierce competition ahead. The Korea Customs Service posted on November 27 on its website that it would receive applications for new retail shop operators in the immigration area past the departure gate. According to the bid notice, [...]