Lee Gap, CEO of Lotte Duty Free, Inaugurated as the 6th President of the Korea Duty Free Association

Lee Gap, CEO of Lotte Duty Free.

[Asia Economy Reporter Seungjin Lee] Gap Lee, CEO of Lotte Duty Free, will be inaugurated as the 6th president of the Korea Duty Free Association on the 3rd. The position of president had been vacant for four years since former president Sunok Jang stepped down in August 2016.

The duty-free industry has long demanded the election of a new president as a unifying figure, arguing that despite the industry's difficulties caused by the COVID-19 pandemic, the association has been unable to exert proper influence due to the prolonged vacancy of the presidency.

Accordingly, the association held the 1st extraordinary general meeting of 2020 on the 24th of last month and unanimously elected CEO Gap Lee as the new president.

The duty-free industry recorded its highest-ever sales last year, approaching approximately 25 trillion won, but is currently facing the worst situation, with sales in the first half of this year dropping 37% compared to the previous year due to the impact of the COVID-19 pandemic.

President Gap Lee stated, “I feel a heavy responsibility and duty as I take on the role of president during this unprecedented and challenging time for the duty-free industry,” adding, “We will overcome the COVID-19 crisis with a spirit of mutual aid by uniting all member companies centered around the association.”

He also identified the most urgent tasks after his inauguration as ▲ early normalization of the duty-free industry ▲ maintaining employment for industry workers ▲ and co-growth with the tourism industry. He emphasized that the association will actively and proactively respond to the policy direction of the National Assembly and government and play a more dynamic role for the development of the industry.

During his term, President Gap Lee plans to continue various activities to enhance the rights and interests of member companies and promote industry development, alongside efforts to overcome the COVID-19 crisis as a representative of the duty-free industry.

Gap Lee joined Lotte Shopping in 1987 and has held key positions such as head of marketing at Lotte Department Store and CEO of Daehong Communications. Since 2019, he has been serving as CEO of Lotte Duty Free.