[Gimeunji financial newspaper reporter Korea] Korean high-altitude missile defense systems (THAAD · Sadd) posted sharply reduced domestic duty-free sales in March in retaliation of the Chinese economy due to. Three of the Chinese authorities conducted from mid-July, the Chinese group tourists of Korea Tourism ban 'is greatly affected.
According to the 16th Customs duty-free sales in the domestic industry in March this year was recorded 1.0593 trillion won. Last February a 18.8% (245.7 billion), decreased levels than revenue.
Domestic sales of duty-free industry has seen an increase in 1000000000001 128.8 billion won this year, in February 1.305 trillion won. But last month, reducing the Chinese people visit and was reflected in its aftermath is intact.
Last year, foreign visitors, only 46.8% (806 million) of 1720 patients were available for the Chinese people. Last year, sales of the entire market volume of 12.3 trillion won Duty Chinese tourists is amounted to 8 trillion won 600 billion, which accounted for 70% of total sales.
However, according to the Ministry of Strategy and Finance, Korea in March, Chinese tourists tourist ban enforcement declined 39.1% compared to last year's sales also fell motive of Duty jjogeura than the previous month.
Duty as they increase the uncertainty of the market duty-free and reduced Chinese tourists has called for measures prepared by the government. Such as a requirement of the duty-free temporary rent reductions and the abolition of the limit on purchases nationals.
The actual reduction in Chinese tourists and a small duty free shop is located in the province hit a direct hit. Recently it ipjeom City in Cheongju Airport Duty 4 has failed to do monthly rent paid in advance on the airport side. Since implementation two months paid leave to employees subject to half, and the employees are being paid only 80% of the salary paid during the vacation.
DF3 section of IIA Terminal 2 (T2) also hit the situation that due to the uncertainty yuchal increase in the duty-free industry. Incheon International Airport Corporation 17 (today) 6:00 batjiman bid application of DF3 area reportedly has not seen the company bid the doctor today.
4 companies such as Lotte Duty Free Shop and Hotel Shilla (Shilla Duty Free Shop), New World Dieppe, Hanwha Galleria Incheon International Airport T2 duty-free within the DF1 (cosmetics), DF2 (alcohol, tobacco and food) only naseotji the zone bidding to sell fashion and accessories bid DF3 areas that may have given up. The industry is a description such as high rents (64.6 billion won), foreign luxury brands to attract and manage hiatus dwaetdaneun bid waiver background.
Duty-free industry has sought to diversify and expand inside the domain, such as the promotion targeting domestic tourists, according to the nationality of a sudden worsening market conditions. However, in the corner of the big voices of these two movements inadequate substitute for the absence of Chinese tourists now.
A duty-free industry official said, "Southeast Asia and Muslim tourists can come up with an alternative to the Chinese tourists, but that their customers costs low is true that compared to Chinese tourists." "It is even shell height of the effort, but hard to avoid sales hit a reality," he explained did.
Another industry official said, "The bus matrix of the Chinese group tourists ohdeon lined up on duty-free and disconnected if old" and "the Chinese group tourists instead of Chinese bundle on their gamyeo purchasing domestic cosmetics mainly large decline in sales than you think, avoid, but the situation very difficult, "he said.
Customs consider the recent worsening market conditions, decided to postpone the starting date of the new duty-free sales operators. It is also planning to extend the allowance to pay patent fees due in accordance with the division of paid duty-free sales decline.
Hyundai Department Store said, "watching the market situation as being worse market conditions will determine the opening delay" is the position. Side of Dieppe New World "will, as we will Shin Junghi determine the relevant issues as the preparation should aim to open this year, and it is certain this one, the opening delay allowed policy," he said.
Among the duty-free industry facing a firestorm Saad Lotte Duty Free and Shilla Duty Free is deulyigo the ball on the overseas markets in order to overcome the crisis.
Deseo in overseas markets, expanding awareness is raising Buying Power, form the economies of scale, such as cost savings through this overseas expansion of duty-free is important. In addition, also to diversify the tourists out deseo concentrated on Chinese tourists overseas expansion of duty-free shops are seen as essential.
July comes first Lotte Duty Free Thailand subsidiary to open a duty-free shop in downtown Bangkok, capital of Thailand. It said last year alone, March 4 months to 1 year after opening a duty-free shop in Tokyo Ginza This Lotte Duty Free is followed by Jakarta city points and the airport points, Tokyo, Ginza and Kansai Airport Branch, Guam airport that operates Bangkok duty-free shops It has been able to.
Lotte side is reported to play a role Bangkok duty-free shops are open also to fruition now jump global duty free industry ranked 3rd Lotte Duty Free is one step. 3rd Global duty-free operator, Lotte Duty Free naejwotda 2 olrimyeo the top spot (worth 4.64 trillion won) in revenue in 2015 based on a total of 3.75 billion euros to the United States narrowly DFS Group. 2015 DFS scored a turnover of 70 million euros 37 million.
Hotel Shilla selected as the recent Hong Kong chep and duty-free operators rakkok International Airport won both my goodwill, followed by cosmetics and perfume Area 3 Asia International Airport in Incheon Airport and Singapore Changi Airport. Chep rakkok the airport business is expected to open the end of the year, you can operate a duty free shop until 2024.
Shilla Duty Free is the last in 2012, Singapore's Changi International Airport duty-free shops, such as the Macau International Airport and operates a foreign duty free shops around the airport duty-free shops there last November opened a duty-free shop in downtown Phuket, Thailand.
In the end of this month to open a Japanese retailer Takashimaya (高 島 屋), All Nippon Airways (ANA) established by All Nippon Airways downtown duty-free firms and joint ventures based in Tokyo, Japan Shinjuku. Hotel Silla is added As reported over 1 trillion or more to achieve annual overseas sales to the existing duty free Hong Kong international airport duty-free shops.
Hotel Silla said, "there is currently generating sales of 500 billion won from overseas duty-free shops, for the Hong Kong International Airport opened the door further expects to raise additional revenue of about 500 billion won," he said.
Meanwhile, the industry pointed out that with the domestic duty-free situation does differ significantly from the so-called "bubble" at the time that the duty-free shops closed down one after another sharp drop in Japanese tourists in the 1990s, holding his head.
Duty Free Korea had started to apply for EPS introduced in 1986, and I have seongeop was lowered barriers to entry go through the Asian Games, the Olympic Games 1988 in 1986. Thanks heaps boom in foreign tourists in 1989 was about the number of duty-free city of the country to reach 29. But compared to the number of duty-free market maneundeda the main customer base of Japanese tourists was so duty-free era did not last long.
1990s and the collapse of the economic bubble in Japan duty free industry is close to the Paradise Duty Free, etc. The Shilla Duty Free Shop, Seoul, Busan door beaten in the 1990 direct hit. After the 10 places in 1996 shut the door standing after the 1997 financial crisis comes along downtown duty free shops was reduced to 11. Since 2003, Hanjin had been returned to duty-free patents, 2010 AK (Ae) also becomes larger the deficit had to return the licenses.
Since chidat was in the early 2010s peak of Hallyu in China it began to fill the space of Chinese tourists are Japanese tourists. In the first half thanks in Seoul geuchyeotdeon Duty 6 in 2015 has increased ahead of the 13 pieces by the end of this year. Downtown Duty Free in Seoul ahead of the opening is a modern duty-free trade center point, the New World Duty Free Central Point City, Tower City, duty-free shops.
Daily Economic News Finance FNTIMES - commercial reprint, copy, distribute prohibited purposes under the Copyright Act
Copyright ⓒ Korea's Financial News & FNTIMES.com
