Shinsegae is set to close its Centum City duty-free store in Busan on Jan. 24.
Lotte Duty Free has halted sales to Chinese resellers — or daigong — starting this year, making the decision after suffering from years of worsening profitability due to high commission fees.
Shinsegae Duty Free may close its Haeundae District branch due to declining sales and brand exodus. The potential closure follows a trend of losses in Korea's duty-free industry amid reduced tourism and economic challenges.
Lotte is closing underperforming duty-free stores and event spaces to address financial issues. The company plans to restructure its operations and reduce costs across various subsidiaries as it navigates declining sales.
Korea's "Big Four" duty free firms are offering early retirement packages as the industry suffers from a shift in tourist priorities.
Incheon Airport hosts a holiday-themed pop-up by Shinsegae Duty Free and Chanel, showcasing the 'Winter Tale' collection, offering photo zones, consultations, and giveaways until December 26.
If the president avoids the budget speech this time, it will inflict serious damage on his leadership.
Lotte Duty Free has refurbished its Ginza branch in Tokyo after eight years, celebrating the reopening of the city’s first downtown duty-free store initially opened in 2016.
Lotte Duty Free, Korea's leading duty-free retailer by sales, said Tuesday it will offer a voluntary retirement scheme and carry out other cost-cutting measures in the face of worsening profitability.
Korea JoongAng Daily Sitemap
