Lotte Duty Free Awarded 'W·E Duty Free' Certification for Win-Win Cooperation with SMEs and Mid-Sized Companies

[Asia Economy Reporter Jo In-kyung] Lotte Duty Free announced on the 3rd that its Myeongdong Main Store received the 'W·E Duty Free' certification from the Seoul Regional Customs Office in recognition of its contribution to win-win cooperation with small and medium-sized enterprises (SMEs) and mid-sized companies.

The W·E (Win-win Excellent) certification is a system newly introduced this year by the Seoul Customs Office to foster a voluntary win-win cooperation atmosphere between the duty-free industry and SMEs/mid-sized companies and to drive export growth. Final selection is made through document review and an authentication committee evaluation based on factors such as the proportion of store area dedicated to SMEs and mid-sized companies, the ratio of direct product purchases, the number of companies operating K-pop pop-up stores, and the implementation of win-win cooperation efforts outlined in business plans.

Certified companies receive a plaque from the Seoul Regional Customs Office and benefits such as mitigation of administrative sanctions (once within one year), consideration of customs cooperation when selecting or renewing Authorized Economic Operator (AEO) status, and priority recommendation for internal awards.

Lotte Duty Free operates the 'Blooming Beauty' store, which gathers domestic small cosmetic brands, and supports overseas joint expansion by utilizing its 12 overseas duty-free stores, striving to open sales channels for domestic brands. It also runs a 50 billion KRW win-win cooperation fund to provide low-interest financial support to partner companies and has made efforts to maintain work-life balance for on-site workers.

At the plaque awarding ceremony held on the afternoon of the 2nd at the Seoul Regional Customs Office in Gangnam-gu, Seoul, Lee Gap, CEO of Lotte Duty Free, said, "I am very honored to be recognized for our partner companies' win-win cooperation activities during the difficult times for the duty-free industry due to COVID-19," adding, "We will continue to focus on creating social value and practicing ESG management."