Travel Retail and Duty Free Business Intelligence    Sunday 21 December 2014

OTHER SHOPS

Jeju Tourism Organization set to open major new downtown duty free store – 21/01/09

Published: 20/01/09

Source: ©The Moodie Report

By Matt Willey and Martin Moodie

SOUTH KOREA. Jeju Tourism Organization, which is leading a concerted campaign to promote Jeju as an international tourism destination, is opening a major new downtown duty free shop business on the island.

Jeju Tourism Organization (JTO) is a public enterprise established in June 2008 to boost the province as a global center of culture, recuperation and tourism.

The 1,322sq m duty free shop, due to open on 22 February, is located at the Jeju Convention Center, part of the island’s Jungmun Tourist Complex. It will offer a full range of Korean and international merchandise, including cosmetics, fragrances, liquor, tobacco, confectionery, ginseng, fashion, accessories and sunglasses.

The new retailer's annual sales targets are as follows:

- 2009: US$57 million
- 2010: US$70 million
- 2011: US$80 million
- 2012: US$100 million

Source: Jeju Tourism Organization
Source: Jeju Tourism Organization
Source: Jeju Tourism Organization
The province aims to attract six million tourists annually and JTO sees the creation of the new duty free proposition as vital to achieving such ambitions. The store is expected to attract 3.25 million passengers this year, rising to 5.8 million by 2011. The beautiful holiday island has traditionally attracted a mix of Korean and Japanese tourists.

JTO noted: "Due to the limitation of time and space, JDC’s duty free shop for travelers at Jeju International Airport has its constraints to promote Jeju tourism. If we increase the total sales by broadening the range of operators of duty free shops, we can cooperate and develop mutually together with JDC.

“The magnificent scenery of Jungmun Tourist Complex and great facilities at ICC JEJU will provide tourists and shoppers with convenience and coziness in shopping; therefore the shop will have great value as an attraction for shopping and tourism,” JTO added.

The new store is located at Jeju Convention Center, part of the Jungmun Tourist Complex, on the south of the island
The store is expected to significantly increase tourists and shoppers’ spend from the current KW108,000 (US$82) per person being recorded at JDC’s airport duty free shop, JTO said.

JTO is also looking toward potential synergies between the new duty free business, the convention centre and a new 500-room Convention Anchor Hotel, which will open early 2010.

The organisation plans to attract shoppers through strong image promotion leading up to the store’s launch next month. It is advertising the duty free shop in various promotional materials for Jeju tourism produced by JTO and Jeju Province, as well as advertising through car rental businesses, hotels, travel agencies, and across billboards near Jeju International Airport, Gimpo International Airport and other major tourist attractions.

Jeju has a long-established duty free industry. Retailers include JDC (Jeju Free International City Development Center), Hotel Lotte and Hotel Shilla.

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