Shilla and Hyundai Department Store Duty-Free Shops 'No Participation' in Incheon Airport Duty-Free Shop Rebid

COVID-19 Prolongation, Focusing on Strengthening Fundamentals Rather Than Expanding Size

[Asia Economy Reporter Lim Hye-seon] Shilla Duty Free and Hyundai Department Store Duty Free have declined to participate in the re-bidding for the duty-free operator at Incheon International Airport Terminal 1 (T1).

On the 22nd, Shilla Duty Free stated, "Due to the prolonged uncertainty caused by the COVID-19 pandemic, after careful consideration, we decided not to participate in the re-bidding for Incheon Airport Terminal 1 this time," adding, "We will focus on strengthening our fundamentals rather than expanding our scale and pursue stable management." Hyundai Department Store Duty Free also said, "This year, we opened our second downtown Seoul duty-free store in Dongdaemun and entered the Incheon International Airport duty-free market, laying the foundation for growth in the duty-free business," adding, "According to our mid- to long-term business strategy, we will focus on stabilizing our new stores for the time being and will closely watch future bids such as the Incheon International Airport Terminal 2 (T2) duty-free bidding." Hyundai Department Store Duty Free had previously secured the DF7 (Fashion & Others) zone by outbidding Shinsegae Duty Free in the 4th Incheon International Airport duty-free operator bidding.

The business rights that were re-bid after failing earlier this year include 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).

This content was produced with the assistance of AI translation services.