Hyundai Duty Free to close Dongdaemun store and focus on Trade Center operation

[Digital Daily, Reporter Wang Jinhua] While the domestic duty-free industry is promoting structural improvements such as reducing stores and implementing desired retirement due to poor performance due to poor business conditions, Hyundai Duty Free is also improving management efficiency. Hyundai Duty Free held a board meeting on the 1st and decided to close Dongdaemun on July 31st. On this day, Hyundai Duty Free said, “We did our best in anticip…

Hyundai Duty Free to close Dongdaemun store and focus on Trade Center operation

SOUTH KOREA. Hyundai Duty Free today announced the closure of its Dongdaemun, Seoul store, effective 31 July, the latest victim of profoundly challenging market conditions in Korean travel retail. The travel retailer, part of Hyundai Department Store, will instead focus its downtown duty-free business on the remaining Trade Center branch in Gangnam, Seoul. But even that store will be reduced from three floors (8 to 10) to two (8 and 9). Revealin…