Lotte and Hyundai Compete in Incheon Airport Duty-Free Bid After Shinsegae Withdraws
Creatrip Team
2 months ago
Lotte Duty Free and Hyundai Duty Free have submitted bids for two newly opened duty-free concessions at Incheon International Airport (DF1: perfumes & cosmetics; DF2: liquor & tobacco) after Shinsegae withdrew its late-submitted application and global leader Dufry (formerly DuFré) and Shilla Duty Free did not participate. Shilla cited changing consumer patterns and ongoing uncertainty for its decision to skip the tender. The airport lowered the per-passenger rent for DF1 (15 shops, 4,094 m²) from 5,346 KRW to 5,031 KRW (VAT included, -5.9%) and for DF2 (14 shops, 4,571 m²) from 5,617 KRW to 4,994 KRW (-11.1%). Contracts run from opening until June 30, 2033 (about 7 years) with a legal option to request renewal to reach up to 10 years of operation. (DF1, DF2: designated duty-free concession zones at Incheon Airport)
