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In October 2019, Changi announced that South Korean travel retailer Lotte Duty Free would take over the concession, with a 6-year contract. The concession would include every one of the 18 liquor and tobacco stores in the 4 terminals equating some 8,000 sq m of retail space, and would be Lotte's biggest operation in the Asia Pacific region.
Lotte Duty Free (LDF; Korean: 롯데면세점; Hanja: 樂天免稅店; RR: Rotde Myeonsejeom), a duty-free division of Hotel Lotte, is a travel retailer headquartered in Seoul, South Korea. LDF is one of the largest travel retailers in the world alongside Dufry and DFS Group .
9 June – Lotte Duty Free takes over DFS Group's Changi Airport liquor and tobacco stores with plans for a revamp soon. [133] This comes after the latter ended its 39-year tenancy due to a challenging environment. [134] 19 June – Phase 2 kicks in easing more restrictions. Households can receive 5 visitors at a time.
In order to secure a duty-free deal for Lotte, Shin was accused of donating ₩7 billion (US$6.12 million) to a non-profit controlled by incumbent President Park Geun-hye's close friend Choi Soon-sil. [29] On 13 February 2018 Shin was fined ₩7 billion (US$6.12 million) and sentenced to 2.5 years incarceration. [30]
Lotte Group is a corporate group started by Zainichi Korean businessman Shin Kyuk-ho in Tokyo on June 28, 1948, starting with the Japanese Lotte Co., composed of Lotte Holdings (Japan) and Lotte Corporation (South Korea).
27 August – After 38 years, DFS Group announced it will close its liquor and tobacco stores in Changi Airport by June 2020 due to a challenging environment. [278] Lotte Duty Free will take over DFS' shops from 9 June 2020, being awarded the tender on 24 October. [279]
Lotte Group was originally established in Japan and expanded into South Korea with the establishment of Lotte Confectionery Co., Ltd in 1967. Lotte Group consists of over 60 business units in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing, and entertainment.
Lotte Holdings Co., Ltd. (株式会社ロッテホールディングス, kabushiki gaisha Rottehōrudingusu) is a Japanese multinational holding company which focused on confectionery and ice cream processing, hotels and sport management. The company was founded in June 1948 by Korean businessman Shin Kyuk-ho.