April 19, 2024

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[THE INVESTOR] Lotte Duty Free, Hotel Shilla, Shinsegae DF and Hanwha Galleria have participated in the bid to win a five-year license to operate a duty-free store at Incheon International Airport’s second terminal, according to local media reports on April 4.

Doosan has decided not to take part to concentrate on stabilizing its downtown duty-free store. 

The participants will turn in their business plans and bidding price to Korea Airports Corp. on April 5 and license application to Korea Customs Service the next day. 

A total of six duty-free stores will open at the second terminal, slated to be completed at the end of this year, and three are slotted for conglomerates, one each for fragrances and cosmetics, liquor, tobacco and packaged food, and fashion and accessories. 

KAC will pick two candidates for each category and KCS, through a special committee, will name the final operator at the end of this month.

By Hwang You-mee (glamazon@heraldcorp.com)