Hyundai Department Store Duty Free Shop 'No Participation' in Re-bidding for Incheon Airport Duty Free Shop

Focusing on Stabilizing New Stores According to Mid- to Long-Term Business Promotion Strategy

[Asia Economy Reporter Lim Hye-sun] Hyundai Department Store Duty Free has decided not to participate in the re-bidding for the duty-free operator at Incheon International Airport Terminal 1 (T1).

On the 22nd, Hyundai Department Store Duty Free announced that it would not take part in the re-bidding for the Incheon International Airport duty-free operator. A representative from Hyundai Department Store Duty Free stated, "This year, we opened our second downtown Seoul duty-free store in Dongdaemun and expanded into the Incheon International Airport duty-free market, laying the groundwork for growth in the duty-free business. According to our mid- to long-term business strategy, we will focus on stabilizing our new stores for the time being and will closely monitor upcoming bids such as the Incheon International Airport Terminal 2 (T2) duty-free operator tender."

Previously, Hyundai Department Store Duty Free secured the DF7 (Fashion & Others) zone by outbidding Shinsegae Duty Free in the 4th term Incheon International Airport duty-free operator tender. The re-bid includes four large corporation business rights?DF2, which sells cosmetics and perfumes; DF3 and DF4, which sell liquor and tobacco; and DF6, which sells fashion and accessories?as well as two small and medium-sized enterprise business rights (DF8 and DF9).

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