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SOUTH KOREA. Samsung and Hyundai Development Company today celebrated the soft (partial) opening of their extraordinarily ambitious joint venture project Shilla IPark duty free in Seoul, described as “a new milestone in Korean duty free”.
The Grand Opening will take place in March 2016.
The store features some 400 brands on three floors, with plans to showcase 200 more brands by the time of the Grand Opening, The Shilla Duty Free told The Moodie Report today.
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(Above and below) These images, courtesy of HDC Shilla, capture the glamour of what the joint venture retailer has called a ‘Premium Lifestyle Shopping Destination’ |
Operator HDC Shilla said it will cooperate with the local community to develop various tourism content and facilities for foreign travelers to make the store a major tourist attraction in Seoul.
Dubbed the world’s largest downtown duty free store and covering some 27,500sq m, Shilla IPark duty free is expected to generate sales of US$700 million in year one, transforming the size of the world’s biggest duty free market.
Shilla IPark duty free, located within one of Seoul’s most upscale districts, enjoys high accessibility to most of the city’s major attractions. Some 50% of the capital’s major hotels lie within a 7km radius of the store, with a further 2,000 rooms set to be built in the near future.
More details to follow soon.
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The spectacular Shilla IPark duty free complex is expected to generate sales of US$700 million in year one alone |
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“A new milestone in Korean duty free” |
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The elegant interior offers a blend of luxury and accessibility |
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