Overview
- Bids closed on January 20 with only domestic bidders—Lotte Duty Free and Hyundai Duty Free—submitting for DF1 and DF2, and no international firms entering.
- Tender rules bar one company from winning both zones, indicating DF1 and DF2 will go to separate operators pending regulatory approvals.
- Hotel Shilla and Shinsegae did not rebid after reporting heavy losses, with Shilla set to exit DF1 on March 17 and Shinsegae leaving DF2 on April 27.
- Shinsegae said it chose to focus on profitability and financial soundness and renewed its Myeong-dong downtown licence to prioritize core operations.
- The two packages cover perfumes and cosmetics plus liquor and tobacco across 29 stores, with new terms running to June 30, 2033 and a possible one-time extension up to a ten-year limit.