SOUTH KOREA REPORT: INCHEON AIRPORT
May 2017 20
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As TRBusiness went to press, Incheon International Airport Corporation (IIAC) was evaluating bids received for the six recently tendered Terminal 2 duty free concessions for which bidding closed on 5 April. David Hayes reports.
Shinsegae shoots for $1bn sales target in 2017... p115 Also inside I
nterest in the highly-publicised T2 tender is understood to be strong with all seven of Incheon Airport’s
existing T1 concession holders telling TRBusiness of their intention to bid prior to the closing date. “A lot of companies came to our T2
duty free tender presentation from among T1 duty free operators and downtown duty free shops,” Kim Bum Ho, Deputy Executive Director of Incheon International Airport Corporation’s (IIAC) Commercial Marketing Group, told TRBusiness in an exclusive interview. “Some foreign companies came
qualify to bid for an Incheon T2 concession, as an existing operator. SME duty free operators attending
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the IIAC presentation included: SM Duty Free, City Plus Duty Free, Entas Duty Free, Samick Duty Free, Grand Hotel Daegu Duty Free and Alpensia Duty Free. At the time of writing it is unclear
whether bids were received from any foreign operators for the three concessions restricted to chaebol bidders.
as well. We expect to announce the result by the end of April or early in May.” The list of duty free operators
classified as South Korean chaebols (conglomerates) which attended IIAC’s T2 concession presentation included: Lotte Duty Free, Shilla Duty Free, Shinsegae Duty Free, Galleria Duty Free (Hanwha Group) and Doota Duty Free (Doosan Group). Hyundai Duty Free did not attend,
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Dufry & DFS show interest We do know that only two foreign companies – Dufry and DFS – attended IIAC’s T2 concession briefings, indicating limited overseas interest in the new Incheon Airport licenses, for a number of reasons. IIAC’s six concession packages
DF4, DF5 and DF6 are reserved for SME companies to bid for;
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total 33 duty free outlets covering 10,208sq m of floor space and the shops are due for completion in time for T2 to be opened at the end of 2017. According to Kim, about 80%
although the company does hold a recently issued downtown duty free license – its new shop is still under preparation in Seoul’s Gangnam district – which means it could not
MAY 2017
of the planned duty free outlets will be concentrated in the central concourse of T2 within an H-shaped building. The remaining shops will be located at either end of the central
“We are happy about our 2016 sales. We hit 57m passengers and had a 17% increase in passenger numbers. Duty free sales hit US$2bn again; there was a 14% increase in KRW sales and 12% in US dollars.”
Kim Bum Ho, Deputy Executive Director of Incheon International Airport Corporation’s (IIAC) Commercial Marketing Group
TRBUSINESS 91
concourse, which are connected with the west and east departure gate concourses. Concessions DF1, DF2 and DF3 are
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reserved for large operators. DF1 is the perfume & cosmetics concession comprising six shops totalling 2,105sq m in area, while DF2 is the liquor, tobacco and food concession consisting of eight shops totalling 1,407sq m in floor space. DF3, which consists of 14 shops
covering 4,889sq m, is the fashion, boutique, toys, electronics and miscellaneous products concession. Kim explained that concessions
Above: Existing DF operator, Lotte is bidding for the T2 tender.
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