Incheon International Airport Corporation announced on September 18 that it had received an official letter from Shilla Duty Free requesting the termination of its duty-free business operation contract (DF1-2022).
The corporation also stated that Shilla Duty Free had completed the payment of a penalty fee of approximately 190 billion won.
According to the contract, Shilla Duty Free is required to continue operations for a mandatory six-month period even after the termination. During this period, the corporation plans to select a new operator to ensure normal airport operations and minimize inconvenience for passengers.
The corporation stated, "We regret that the differences in positions between the corporation and the duty-free operator regarding rent adjustment, amid the prolonged slump in the duty-free industry caused by changes in the external environment, could not be resolved smoothly, ultimately leading to the withdrawal from the business."
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