Airport operator Korea Airports Corporation (KAC) is to rearrange the retail offer at Gimpo International airport as it prepares to embark three-year renovation project in July. Each retail outlet at the airport is leased for between three and five years with rental income from retail reaching $165m in 2013. Lot
Airport operator Korea Airports Corporation (KAC) is to rearrange the retail offer at Gimpo International airport as it prepares to embark three-year renovation project in July.
Each retail outlet at the airport is leased for between three and five years with rental income from retail reaching $165m in 2013.
Lotte Duty Free (liquor and tobacco) and Shilla Duty Free (fragrances and cosmetics, fashion and accessories and souvenir and confectionery) are the incumbent retailers after Lotte Duty Free lost its monopoly at the location when the contract was split following the last duty-free tender in 2011. The duty-free contract expires in May 2016 and KAC will consult with the Korea Customs Service before a new tender is issued.
KAC, which celebrates its 33rd anniversary this year, currently operates Gimpo, Gimhae, Jeju, Daegu. Muan and Cheongju international airports and various domestic airports including Gwangju, Ulsan, Yeosu, Sacheon, Pohang, Gunsan and Wonju.
A KAC spokesman told DFNIonline during a recent visit to Gimpo airport: “The airport will remain open while work takes place and once complete the retail offer will be rearranged to meet customers' needs. A new information technology showroom and beauty and health zone will open once work is complete.”
Minimizing disruption while work takes place is a significant challenge, indicated the spokesman. “It's not easy to satsify customers who are surrounded by a construction site. To minimise the inconvenience the renovation will be conducted in regular succession. The restaurant on the second floor, for example, will be open while the restaurant on the first floor is under construction. A temporary airline counter will also be created.”