Incheon Airport Lowers Rent, Opens Bids for Returned Shilla and Shinsegae Duty-Free Shops
Creatrip Team
3 months ago
Incheon International Airport Corporation has launched a new bid for duty-free contracts at Terminal 1 after Shilla and Shinsegae returned their concessions citing high rents. The airport announced bids for DF1 (perfume & cosmetics) and DF2 (liquor & tobacco) with reduced per-passenger rent — DF1 lowered by 5.9% (from 5,346 to 5,031 KRW including VAT) and DF2 by 11.1% (from 5,617 to 4,994 KRW). Bidders must support the airport’s smart duty-free service via the Incheon Airport Duty-Free app, which lets travelers buy up to 30 minutes before boarding and pick up in-store. Contract runs until June 30, 2033, with possible renewal to 10 years under law. Multiple domestic and international firms (5–6 expected) may bid, and former operators Hotel Shilla and Shinsegae could re-enter. The airport says the adjusted rents reflect recent shifts in consumer and tourism trends and aim to form reasonable rental levels after earlier unsustainable high bids.
