CreatripTeam

Re-auction preparations are underway for two major duty-free zones at Incheon International Airport after operators returned their contracts citing heavy rental burdens. The airport authority plans to announce bidding soon and industry attention focuses on the minimum acceptable rent per passenger (최저수용금액) that the authority will set. In 2022 winning bids were far above the minimum, but high rents later eroded profits and prompted early exits. Domestic giants (Lotte, Shinsegae, Shilla, Hyundai) are expected to bid more cautiously; global groups such as CDFG, King Power, Lagardere and Avolta are also watching and could enter if local firms stay conservative. Auditors and courts previously recommended large rent cuts, which may lower reserve levels this time. Ultimately, the auction’s success depends on whether the airport sets reserve rents reflecting current market realities and passenger spending shifts.