US EditionImpasse Remains Despite District Court Ordering -27.2% Incheon Rent Reduction for Shinsegae Duty Free
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Impasse remains despite District Court ordering -27.2% Incheon rent reduction for Shinsegae Duty Free
Given the airport corporation’s refusal to recognise the rulings, Shilla and Shinsegae have two options, litigate or walk away from their contracts. The former would take years and involve not only big legal expenses but recurring, perhaps escalating losses at Incheon.
[Digital Daily Reporter Yoo Chae-ri] The court has sided with duty-free shops demanding rent reductions at Incheon International Airport. However, the conflict is expected to intensify as Incheon International Airport Corporation (IIAC) maintains its position of refusing to accept the settlement. According to industry sources on the 15th, the Incheon District Court recently ordered Incheon International Airport Corporation to reduce Shinsegae Du…
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