Companies selected as general business candidates for Incheon Airport duty-free shops are all rising sharply in early trading.
As of 9:47 a.m. on the 20th, Hotel Shilla is trading at 76,700 KRW, up 5.07% (3,700 KRW) from the previous trading day. Shinsegae and Hyundai Department Store are also rising by 2.42% (211,500 KRW) and 2.49% (53,500 KRW), respectively.
On the 17th, Incheon International Airport Corporation announced that Shinsegae DF, Hotel Shilla, and Hyundai Department Store Duty-Free Shops were selected as general business candidates for duty-free shops. The general business rights area covers five business zones from DF1 to DF5, totaling 63 stores (20,842㎡). Shinsegae and Shilla were selected as multiple operators for DF1·2 and DF3·4 zones, while Shinsegae, Hyundai, and Shilla were selected as multiple operators for the DF5 zone.
Researchers Kim Myung-joo and Jeon Ye-won from Korea Investment & Securities stated, "Uncertainty related to the Incheon Airport duty-free shop bidding has been resolved," adding, "Attention should be paid to Shinsegae, which has high valuation attractiveness, and Hotel Shilla, a pure duty-free company."
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