IIAC reveals positive outlook following reopening of T1 arrivals duty free shops

By Andrew Pentol |

Incheon International Airport Corporation reopened its arrivals duty free shops at Terminal 1 on 4 June.

Incheon International Airport Corporation (IIAC) has revealed a sense of optimism following the reopening of its Terminal 1 arrivals duty free shops earlier this month (4 June) and suggested this significant development will provide a much-needed boost to the South Korean travel retail business.

The two arrivals stores are 190sq m each and operated by Kyung Bok Kung (formerly Entas Duty Free). Located in the east and west sides of the arrivals hall, the shops had been suspended since October due to the termination of the agreement with previous operator SM Duty Free.

SM Duty Free’s withdrawal prompted a new bidding round almost immediately to minimise passenger inconvenience. According to a note on the IIAC website Kyung Bok Kung was selected at the end of March after its business and financial proposal was evaluated by IIAC. The lease was signed on 18 May 2021.

REDUCED OPERATING HOURS

Both shops are operating on reduced hours (05:00 to 20:00) and stock all products including liquor and tobacco and perfumes and cosmetics.

The two arrivals duty free stores are now operated by Kyung Bok Kung (formerly Entas Duty Free) after SM Duty Free terminated its agreement with IIAC.

Passengers travelling on non-landing flights are permitted to use the shops on a limited basis under quarantine guidelines.

Bumho Kim, Deputy Executive Director of Concession Marketing Group, IIAC told TRBusiness: “I am so thankful to Kyung Bok Kung for the opening.

“The situation is still very difficult but I think, Kyung Bok Kung has a very good outlook for the future. I also expect to see more passengers in three to four months even though we have a long way to go.”

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