SOUTH KOREA. Shinsegae Group has established a new entity, temporarily named Shinsegae Duty Free Global, after splitting its duty free businesses in Busan (downtown) and Incheon International Airport from parent company Shinsegae Chosun Hotel.
The new entity will embrace all the group’s duty free operations, including its acclaimed new downtown store in Myeong-dong Seoul, opened in May 2016. A Board meeting next month is expected to ratify the new entity.
Confirming the initiative and providing the new logo, a Shinsegae spokesperson told The Moodie Davitt Report that a schedule for the final structure and corporate identity is still to be finalised.
Shinsegae Duty Free has grown impressively in recent years to emerge as South Korea’s third-biggest travel retailer, behind Lotte Duty Free and The Shilla Duty Free.
