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Lotte Group to open duty-free shop at Singapore airport

RBR Staff Writer Published 09 February 2012

Lotte Group, a South Korea-based duty-free store chain, plans to open second overseas store at Singapore Changi International airport.

The new duty-free shop will be located in terminal two and offer Korean specialty products. The stand-alone store's tenancy will start on 1 May 2012, according to dfnionline.com.

On 31 January, the travel retailer opened its first overseas outlet at Soekarno-Hatta International outlet in Jakarta. Lotte is reportedly exploring further opportunities in Indonesia and in countries such as China, Vietnam and Russia.

Changi Airport Group corporate communications manager Lee Ching Wern said the specialty shop is for Korean specialty products, particularly Korean Ginseng and their associated products.

The website reported the departure of former chief executive officer (CEO) YS Choi on 3 February and appointment of Won Joon Lee as new CEO. Lee previously held the position of Lotte Department vice-president.