Lotte Duty Free signs agreement with City Duty Free
Lotte Duty Free has signed a business agreement with City Duty Free to grow small- and medium-sized duty free shops.
Lotte Duty Free is scheduled to hold a business agreement ceremony today with City Plus, operator of City Duty Free, at its headquarters in Jung-gu Seoul. Both company CEOs will attend the meeting to plan how to work together to attract customers and contribute to travel recovery.
As part of the business agreement, Lotte Duty Free will support the duty free operation of City Duty Free, which currently has two shops in Korea (Incheon International Airport Terminal 2 and Muan International Airport). Lotte Duty Free will provide advice on product supply and support for attracting brands so that small- and medium-sized duty free shops can increase their negotiating power with major brands. It also supports joint marketing activities and employee service training to attract customers.
"Coexistence with small and mid-sized duty free shops is the way for Korea's duty free industry to grow together," said Ju Nam Kim, CEO of Lotte Duty Free Shop.
Kim was appointed CEO of Lotte Duty Free in December 2022, replacing Kap Lee, who held the position since January 2019.
