IDutyFree launches Korea’s ‘first duty free exhibtiion’

By Charlotte Turner |

Korea’s ‘first duty free exhibition’, sponsored by Incheon Free Economic Zone and organised by Conexia Inc. (www.conexia.kr), will be launched at Songdo Convensia, Incheon, South Korea, from this November 3 to 5.

 

Under the slogan of “SHINE,” organisers say that IDutyFree (www.idutyfree.org) will be an event where people can share information and knowledge, highlight their products and services, inspire each other, network, and be entertained.

 

“People from around the world can create new value to develop their businesses or start anew by sharing information, knowledge, and know-how with each other,” say the organisers.

 

“The East Asian duty free market – Korean in particular – has significantly grown to such an extent as to lead the global market.

 

US$5.7BN INDUSTRY

“Korea accounts for about 10% of the world duty free market, while the UK and the US account for about 6%. The annual turnover of every intercity and airport duty free store in Korea was around US$5.7bn in 2012.”

 

IDutyFree says its growth is mostly due to the high demands from Chinese and Japanese tourists. They have contributed about 49.2% to the total turnover of the Korean duty free market with the turnover of $1.7bn and $1.1bn respectively in 2012, says IDutyFree.

 

“The necessity to find quality products with a reasonable price that can meet the needs of both domestic and overseas customers is increasing,” says Elena Chai, CEO of Conexia Inc.  To this end, we think it very noteworthy and meaningful to open a duty free exhibition for the first time in Korea.”

 

She added, “IDutyFree will provide people the best market for finding those quality products and an opportunity to obtain duty free information as well as to understand the entire market trend.”

 

The event, which will only consist of thoroughly selected businesses and visitors, will also include additional events for three whole days such as networking events, gala dinner, and award ceremony.

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