SOUTH KOREA. Dufry Thomas Julie, the partnership between Dufry and Korean firm Thomas Julie & Co., has been awarded a five-year duty free contract extension at Gimhae International Airport in Busan, according to Korean business news service Pulse.
Korean Airports Corporation revealed details on Monday, said the local reports, with Dufry Thomas Julie Korea scoring 903.17 points out of 1,000 in the bidding process to win the DF2 business licence. Dufry was initially awarded a five-year contract in 2013, with operations starting in 2014 in space of 434sq m. This footprint has since been expanded at the airport.
The report noted that Dufry Thomas Julie Korea had sales of KRW77.9 billion (US$69 million) for the first ten months of this year, and KRW85.7 billion (US$76 million) in 2017. Full-year 2018 sales are expected to top KRW100 billion (US$88.5 million).
It also said that small to medium-sized retailer SM Duty Free had contested the award, saying the space was originally reserved for smaller, local players.
We will bring you further news on this story as it emerges.
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