Korea Airports Corp "Revitalizing Airport Duty-Free Shops"... Discussing Solutions with Duty-Free Companies

[Financial News] Korea Airports Corporation has arranged a meeting to explore solutions for revitalizing the airport duty-free industry with duty-free shops,
Korea Airports Corporation announced that on the 27th, they discussed cooperation plans for revitalizing airport duty-free shops with duty-free companies such as Lotte, JDC, Gyeongbokgung, and Grand at their headquarters in Gangseo-gu, Seoul.
Airport duty-free shops have been struggling recently due to changes in consumer travel trends and the diversification of online shopping channels, leading to an increased preference for online shopping. Last year, domestic duty-free industry sales were around 14.2 trillion won, a 43% decrease compared to 24.8 trillion won in 2019.
The corporation has formed a consultative body with duty-free companies to explore solutions for securing duty-free shop competitiveness, such as △conducting joint promotions △developing specialized products for airport duty-free shops △displaying the latest trendy products △diversifying product categories △expanding duty-free limits for domestic customers.
Lee Jeong-gi, President of Korea Airports Corporation, said, "The corporation will continue to grow together with duty-free companies through continuous cooperation and active support."
hoya0222@fnnews.com Kim Dong-ho Reporter