September 1 2022  |  Retailers

Lotte Duty Free signs joint marketing agreement with Hana Bank

By GTR Magazine Staff

The signing ceremony was held at Hana Bank's headquarters in Jung-gu, Seoul

Lotte Duty Free has signed a strategic business agreement with Hana Bank for “joint marketing to foreign exchange customers” to capture the duty free shopping demand of foreign customers residing in Korea.

Held at Hana Bank's headquarters in Jung-gu, Seoul, Kim Joo-nam, head of Lotte Duty Free’s Korea business division and Kim Ik-hyeon, head of Hana Bank's foreign exchange business, attended the signing ceremony on behalf of both companies.

Based on this MOU, it plans to enhance customer convenience by comprehensively providing Lotte Duty Free online and offline shopping benefits and Hana Bank's mobile financial services to foreign customers staying in Korea. According to the Ministry of Justice, as of 2021, there are about 2 million foreigners residing in Korea, accounting for about 4% of the total population of Korea.

Following the signing, a shopping event that offers benefits when foreign customers using Hana Bank visit Lotte Duty Free World Tower, will be held until the end of the year. Foreign customers who use Hana Bank’s multilingual overseas remittance app Hana-EZ can enjoy benefits by signing up and logging in. In addition to other features, customers using the app can receive various rewards such as Lotte Duty Free VIP Gold membership upgrade, which provides up to 15% shopping discount. Discount coupons to use at Lotte World Adventure, Lotte World Tower Aquarium, and Seoul Sky Observatory are also available.

Prior to this, Lotte Duty Free entered into a business agreement with financial platforms including Kakao Pay this year to strengthen marketing for domestic and foreign customers. The retailer is striving to expand the simple payment infrastructure by introducing Alipay+ to expand the accessibility of customers in Asian countries.

REGION Asia

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