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THE WHAT? Lotte Obligation Free has misplaced out within the first spherical of evaluation of bids for the operational rights of duty-free outlets at Incheon Airport, in accordance with the Korea Herald.
THE DETAILS Rivals Resort Shilla, Shinsegae DF and Hyundai Division Retailer Obligation Free have been as a substitute shortlisted for the licensing bid for the 5 duty-free zones within the airport.
Because of the end result Lotte is withdrawing its enterprise from the airport for the primary time because it opened in 2001.
THE WHY? In accordance with trade insiders Lotte’s partial withdrawal of its enterprise in 2018 was a part of the rationale it misplaced out within the bidding course of, with the corporate voluntarily withdrawing some shops to solely function in DF 3.
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