Shinsegae eyes another duty-free shop

[THE INVESTOR] Shinsegae Group vice chairman Chung Yong-jin on June 21 hinted that the retail giant is keen to operate another duty-free store in Seoul.

Shinsegae earned the operational rights of a new downtown duty-free store last year and its first outlet recently opened within its flagship Shinsegae Department Store in central Seoul. 

“Nothing has been decided. But it is true we have keen interest in operating another duty-free shop,” the Shinsegae heir told reporters after attending a job fair of the group’s 106 affiliates and suppliers.

If the group earns another license, its second duty-free store is highly likely to be situated within the department store’s recently refurbished Gangnam outlet, industry watchers say. 

By Lee Ji-yoon (jylee@heraldcorp.com)