SOUTH KOREA. Korea Airports Corporation has named incumbent Lotte Duty Free as the preferred bidder for the perfumes/cosmetics and general merchandise (excluding liquor & tobacco) concessions at Gimhae International Airport in Busan and Gimpo Airport in Seoul.
Both contracts are subject to review by Korea Customs Service, Lotte Duty Free confirmed.
In the southern city of Busan, Lotte Duty Free is set to run a 992sq m store at Gimhae International from January 2022 until December 2026 with a five-year extension option at the retailer’s request.
Lotte Duty Free was named ahead of rivals The Shilla Duty Free and Shinsegae Duty Free.
At Seoul Gimpo, Lotte Duty Free will offer the same categories in a 732sq m store with similar five-year duration and five-year contract extension terms. The Shilla Duty Free and Shinsegae Duty Free were the other bidders.
The liquor & tobacco contracts at Gimhae International and Gimpo International are held by Dufry Thomas Julie Korea and The Shilla Duty Free, respectively.
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