SOUTH KOREA. Lotte Duty Free has struck a strategic partnership with premium soju brand Hwayo as part of the travel retailer’s drive to support the competitiveness of Korean drinks companies.
Under this agreement, Lotte Duty Free and Hwayo will jointly develop exclusive products, expand global distribution, host events for top-tier customers and showcase Hwayo through experiential pop-up spaces at Lotte stores.
A memorandum of understanding was signed on 26 October at Lotte Duty Free’s Myeong-dong store in Jung-gu, Seoul. This was attended by key representatives from both companies, including Lotte Duty Free Myeong-dong General Manager Kim Won-sik and Hwayo Head of Sales Park Jung-hwa.
Lotte Duty Free said the agreement underlined the growing interest in Korean drinks among foreign tourists.
The company noted that sales of Korean alcoholic beverages to foreign customers at Lotte Duty Free from January to September this year surged +275% compared to the same period last year.
In a first step the partners have created a ‘Hwayo x Kwangjuyo’ set – combining premium distilled spirits with traditional Korean ceramics – exclusively through Lotte Duty Free.
The product has already been pre-released at Lotte Duty Free’s Gimpo Airport store, with plans to roll it out across online duty-free platforms and other domestic retail locations.
Hwayo, which has been listed at Lotte Duty Free Singapore, Changi Airport since May, will expand its presence across Lotte Duty Free’s international locations.
On 26 October, an exclusive event was held at the Myeong-dong flagship store for Lotte Duty Free top-tier customers, while a tasting event is scheduled for next month at the company’s World Tower branch in Seoul. A series of Hwayo experiential pop-up spaces will also be introduced across the network.
Kim Won-sik said, “We expect this partnership to serve as an opportunity to introduce high-quality K-liquor products to customers around the world.
“Moving forward, we will continue to expand collaborations with competitive domestic and international brands to offer differentiated products and foster mutual growth.” ✈
