SOUTH KOREA. Lotte Duty Free has signed an agreement with Citibank Korea to conduct joint marketing efforts to revitalise the South Korean tourism industry.
The companies aim to attract customers across South Korea and Asia Pacific.
The alliance was signed during a ceremony held at the Citibank Seoul Center in Jongno-gu, Seoul, attended by Lotte Duty Free CEO Jang Seon-wook and Citibank President Park Jin-hei.
“Lotte Duty Free’s efforts in co-marketing with Citibank aim to lay the foundations to revitalise the Korean tourism industry, which has suffered from a decrease in Chinese tourists, by expanding its target to Asia Pacific,” said Lotte Duty Free Shop CEO Jang Seon-wook. Chinese arrivals in South Korea fell -48.3% in 2017.
Through this agreement, Lotte Duty Free will provide benefits to Citibank VIP customers in Asia Pacific, including Singapore, Indonesia, Vietnam and Thailand.
Tourists with Citibank VIP accounts visiting Lotte Duty Free stores in downtown Seoul will receive discounts and a personal shopper service.
Other benefits include an airport limousine service, entry to the Gyeongbok Palace Hanbok, other cultural events, and invitations to the Lotte Duty Free Family Festival. The concert features Korean stars such as BTS.
Benefits for Citibank’s domestic VIP customers include discounts, Star Lounge vouchers and other coupons.