The 555m Lotte Duty Free World Tower is formally set to open on October 21st with a grand ceremony in Seoul, according to Lotte Duty Free.

The opening of the $3bn complex will be conducted first by Lotte CEO Lee Hong-Kyun, followed by a presentation from Lotte Marketing Director Kim Bo-Joon.

Lotte Duty Free will conduct a soft opening of the Lotte World Tower Duty Free Shop on October 16 when the nearby Lotte World duty free store closes for the last time at the end of trading on that day.

[This will also mark the phased opening of one of Asia’s largest central city downtown duty free stores, covering 16,000sq m when Phase 2 opens at the end of 2016-Ed].

MAIN COMPLEX FEATURES
In addition to the Lotte World Tower Duty Free Shop, the Lotte World Tower shopping and entertainment complex next to the tower building also contains a Lotte Department Store, the Lotte Avenue Store featuring high-end brand names, plus the ‘Star Avenue’ comprising pictures and the music of K-pop and K-drama stars, a theatre and other entertainment facilities.

The Lotte company says it is now ranked as the global number three and Asia’s number two duty free operator and it expects Mainland Chinese customers to account for a large proportion of sales at the new complex.

As reported comprehensively by TRBusiness.com, the Lotte Tower project has been greatly delayed by concerns relating to safety, but these have now been allayed.

For the full background, click here: http://www.trbusiness.com/index.php/regional/asia/15925-huge-3bn-lotte-world-tower-to-open.html