10:21 | 06/12/2017 Companies
Lotte Duty Free, the travel retail company of the Republic of Korea on November 27 announced that it will open the second duty-free shop in Cam Ranh airport next year.
According to the company, it has been granted permission, valid until 2028, to open a duty-free store at the new terminal of the Cam Ranh International Airport in the first half of 2018.
The new store is hoped to earn revenue of up to 700 billion KRW (664 million USD) in the next 10 years.
Lotte Duty Free opened a similar store at Da Nang International Airport in early November, making it the first RoK duty-free retailer that has entered Vietnam’s market.
Lotte Duty Free is the travel retail arm of RoK conglomerate Lotte Group, with six duty-free stores in Vietnam, Indonesia, Japan, Thailand and Guam.