Chinese firm participates in Incheon International Airport's duty-free auction: sources

Travelers walk around the duty-free area at Incheon International Airport in Incheon, west of Seoul, on Feb. 14. [NEWS1]

China's state-run duty-free operator, China Duty Free Group (CDFG), has participated in the license bidding at Incheon International Airport, industry sources said Monday.

Four Korean companies — Lotte Hotel, Hotel Shilla, Shinsegae and Hyundai Department Store Duty Free — have also submitted bids for a ten-year license for five duty-free sections, including cosmetics, perfume, liquor, tobacco, fashion, accessories and luxury goods, in the airport's Terminal 1, set to start in July 1, they said.

If CDFG, the world's largest duty-free retailer, wins the auction, it will become the second foreign travel retailer to do business at Korea's main gateway, after Hong Kong-based DFS Group won an operating license back in the early 2000s.

Dufry AG, a Swiss-based travel retailer, was said to participate as well but dropped out.

The Korea Customs Service and Incheon International Airport Corporation are set to review the bidding proposals and select an operator for each category by next month.

Yonhap