Doosan Group is set to launch into the lucrative duty-free shop business. Doosan Corp. announced on September 2 that it will apply for a license to run a duty-free shop downtown in Seoul as part of an effort to launch the duty-free business.
Doosan plans to set up a duty-free shop at its Doosan Tower building located in Dongdaemun, a famous shopping district in Seoul.
A Doosan Group official said, “Dongdaemun is an ideal place to run a duty-free shop, considering that it has strong infrastructure for recreational shopping, tourism, and transportation, in addition to its popularity among foreign tourists.”
At present, the National Tax Service is receiving applications for the licenses to run duty-free shops in Seoul and Busan. The licenses for three duty-free shops in Seoul and one duty-free shop in Busan are slated to be expired between November and December 2015.
The current license holders such as Lotte and SK need to beat the challenge of up-and-coming applicants, including Doosan, to maintain their licenses.
