Topsity Duty-Free Shop Returns Patent Rights for Sinchon Downtown Branch

[Asia Economy Reporter Jang Sehee] Top City Duty Free has decided to return the license for its Sinchon branch and withdraw from the business.

According to the duty-free industry on the 4th, Top City Duty Free, which operates the Sinchon branch of the Seoul downtown duty-free store, returned its license to the Korea Customs Service on December 31 of last year. Accordingly, Seoul Customs decided to terminate the Top City downtown duty-free store license as of that day.

Top City Duty Free acquired the Seoul downtown duty-free store license in 2016. However, due to the Terminal High Altitude Area Defense (THAAD) incident delaying the opening, the store only opened in the second half of 2018 at the Sinchon private station.

However, business operations were disrupted after the lessee TR Global and the sublessee Top City Duty Free lost an eviction lawsuit against the SM Group, which owns the Sinchon station.

Meanwhile, in 2018, Lotte Duty Free gave up licenses for three areas of the Incheon Airport Terminal 1 duty-free business. Last year, Hanwha Galleria and Doosan also returned their downtown duty-free store licenses.