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[Alpha Biz=(Chicago) Reporter Kim Jisun] Earlier this year, the duty-free industry, which competed fiercely for the 10-year right to operate duty-free shops at Incheon International Airport, is expected to face off once again in bidding for Gimpo Airport.
According to the industry on the 6th, the Korea Airports Corporation will announce its bid for duty-free shops at Gimpo Airport as early as late November and recruit duty-free operators. Duty-free shops at Lotte, Shilla, Shinsegae, and Hyundai Department Store are taking a cautious stance, saying they will decide whether to participate in the bidding in the future as no announcement has been made that includes the terms of the contract.
Currently, duty-free shops at Gimpo Airport's international departure hall are divided into the DF1 area selling perfumes and cosmetics and the DF2 area selling alcohol and cigarettes. Lotte Duty Free has been operating the DF1 area since 2022 and Shilla Duty Free has been operating the DF2 area since 2018.
The bid comes ahead of the expiration of the contract period at Shilla Duty Free in April next year. According to the contract, it is scheduled to expire on the 16th of this month, but the business period has been extended by six months in recognition of the COVID-19 situation.
The area of the DF2 area, located on the third floor of Gimpo Airport's international terminal, is about 733.4 square meters (222 pyeong). The annual sales predicted by the Korea Airports Corporation in 2018 are around 60 billion won. At that time, Lotte, Shilla, Shinsegae, and Doosan duty-free shops challenged the bidding, but Shilla Duty-Free earned 94 points in the evaluation by the Korea Airports Corporation, surpassing Lotte (92 points) and winning business rights.
Lotte Duty Free Shop has been reopened after completing the renewal of the Gimpo Airport Duty Free Shop in May. The business period is from January 2022 to December 2026. Unless there is a special reason, it can be extended by five years and will be operated until 2032.
The Korea Airports Corporation will announce the bid after consulting with related agencies such as the Korea Customs Service. "We plan to announce the bidding in late November or early December, but we will make it public by the end of this year even if the schedule changes," an official at the airport corporation said.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
