Duty-free operator City Plus Korea in rapid expansion
City Plus Korea is rolling out new stores in an ambitious expansion plan to boost its market share.
Trading under the City Duty Free banner, the company is a subsidiary of Top Sola Co, a South Korean solar energy technology developer, which over the last two years has expanded into duty-free retailing. It now has five duty-free concessions including at Incheon’s Terminals 1 and 2, at Incheon’s Seaport Ferry Terminal 2 and at Gimpo International Airport.
This year it will open a downtown duty-free store in Seoul and two shops at Terminal 2.
“Business has been good at Incheon Airport; we have a lot of promotions offering good prices and value,” Kim Bong Ki, City Plus duty-free director for Incheon and Gimpo Airports, told TRBusiness in an interview.
The company has five shops at Incheon Airport, which now accounts for about 40 per cent of the company’s total duty-free revenue.