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Bidders compete for downtown duty free licenses in Seoul

Bidders compete for downtown duty free licenses in Seoul

Posted December. 09, 2016 07:11,   

Updated December. 09, 2016 07:23

한국어

Duty-free shop operators seem relieved, as the eval‎uation process will be conducted as scheduled. They are now making final preparations for the selection of new duty-free locations.

SK Networks’ Walkerhill Duty Free announced Thursday that it will invest 55 billion Korean won (approx. 47.45 million U.S. dollars) in local tourism development over the next five years. President Mun Jong-hun of SK Networks emphasized that the company will build the "Northeastern Seoul Tourism Belt” connected with tourist attractions in Gyeonggi and Gangwon provinces to attract 12 million tourists per year from 2021. Last year, 3.3 million foreign tourists visited northeastern Seoul, including Gwangjin-gu and Seongdong-gu. Walkerhill Duty Free also announced its plan to invest 200 billion won (approx. 172 million dollars) in tourism development and support for SMEs over five years.

According to an official of Walkerhill Duty Free, the company will deliver the business plan to build Walkerhill Hotel resort/spa facilities and advance the tourism industry, and the win-win strategy to support local companies and SMEs at the presentation.

Lotte Duty Free plans to highlight the favorable location of Lotte World Tower branch and know-how in operation. “All 1,300 former employees of World Tower branch hope that the company can receive a fair eval‎uation,” said a Lotte Duty Free official.

Lee Dong-ho, president of Hyundai Department Store’s duty free operation, has been recently promoted to vice chairman. Helping prepare the presentation, Lee said that Hyundai, which is the only new bidder, is most capable as a duty-free shop operator with 45 years of expertise and management experience in the distribution industry.

Shinsegae Duty Free will highlight its differentiated floor layout, which it proved at the Myeongdong branch, Korean wave contents and the fact that it recorded the highest earnings among new operators within six months after opening. HDC Shilla Duty Free said that it is preparing the presentation with confidence as it received the highest grade in the 2015 eval‎uation with differentiated competitiveness and know-how.



Lee Sae Saem iamsam@donga.com · Hyoun-Soo Kim kimhs@donga.com