Lotte Duty Free Recognized for Win-Win Cooperation... Earns 'WE Duty Free' Certification for 2 Consecutive Years

On the 16th, at the WE Duty Free Certification Award Ceremony held at the Seoul Main Customs Office in Gangnam-gu, Seoul, Lee Gap, CEO of Lotte Duty Free (right), and Sung Taegon, Commissioner of the Seoul Main Customs Office, are taking a commemorative photo together.

[Asia Economy Reporter Jeon Jinyoung] Lotte Duty Free announced on the 16th that Lotte Duty Free World Tower Branch has been recognized for its contribution to win-win cooperation with small and medium-sized enterprises (SMEs) and mid-sized companies, receiving the ‘WE Duty Free’ certification from the Seoul Regional Customs Office. This marks the second consecutive year of certification following last year's selection of the Myeongdong Main Branch.

The ‘WE (Win-win Excellent) Duty Free’ certification is a certification system introduced by Seoul Customs last year to foster a voluntary win-win cooperation atmosphere between the duty-free industry and SMEs and mid-sized companies, and to drive export growth. Selection is made through document review and certification committee evaluation based on factors such as the proportion of store area allocated to SMEs and mid-sized companies, the ratio of direct product purchases, the number of K-pop upstore operating companies, and the implementation of win-win cooperation efforts as stated in business plans. Certified companies receive benefits including a certification plaque from Seoul Customs, a one-time reduction in administrative sanctions within one year, consideration of customs cooperation when selecting or renewing Authorized Economic Operator (AEO) status, and priority recommendation for internal awards.

The Seoul Regional Customs Office cited the establishment and operation of a 50 billion KRW interest-free fixed deposit to provide low-interest financial support to partner companies and the provision of loan interest rate reduction benefits as reasons for the selection. Additionally, they highly evaluated the transfer of products to support the growth of SME and mid-sized duty-free operators.

At the certification award ceremony held at the Seoul Regional Customs Office, Lee Gap, CEO of Lotte Duty Free, said, “It is very meaningful that Lotte Duty Free’s efforts aimed at win-win cooperation with partner companies have been recognized once again this year. Although this is a very difficult time due to the prolonged COVID-19 pandemic, we will continue activities for mutual growth with SMEs and mid-sized companies.”

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