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  • Shinsegae Duty Free to Exit Incheon Airport’s DF2 Zone Amid Rising Losses: A Strategic Shift or an Economic Warning?

    Shinsegae Duty Free to Exit Incheon Airport’s DF2 Zone Amid Rising Losses: A Strategic Shift or an Economic Warning?

    Shinsegae Inc, a major retail conglomerate in South Korea, announced on Thursday that it plans to shut down its duty-free business unit in Incheon International Airport’s DF2 zone. This decision has been prompted by growing losses.

    Motivation Behind the Decision

    As South Korea’s second-largest department store chain, Shinsegae has resolved to enhance the operational efficiency of its duty-free business by confronting escalating losses head-on. The company intends to cease operations within the DF2 zone, which houses cosmetics, perfumes, liquor, and tobacco offerings, by April 27, 2026.

    However, Shinsegae DF Inc’s duty-free outlets in the airport’s DF4 zone will continue business as usual.

    Challenging Market Conditions

    A representative from Shinsegae cited a myriad of adverse and unpredictable circumstances plaguing the duty-free market, such as high exchange rates, economic downturn, and diminished spending among primary consumers. The company had previously sought rent modifications from the Incheon International Airport Corp (IIAC), but the airport authority denied these requests.

    Future Business Focus

    With the impending shutdown of its DF2 zone outlet, Shinsegae DF plans to concentrate on its continuing operations in the airport’s DF4 zone and its city center store in Myeongdong, central Seoul.

    Just last month, Hotel Shilla Co relinquished its DF1 zone license to the airport due to mounting losses. The IIAC is predicted to initiate a new bidding process for the DF1 zone license previously held by Shilla Duty Free later this year.

    Questions & Answers

    Why is Shinsegae closing its duty-free business in the DF2 zone?
    Shinsegae is closing its duty-free operations in the DF2 zone due to escalating losses and a desire to improve overall operational efficiency.

    What areas does the DF2 zone cover?
    The DF2 zone houses a variety of products, including cosmetics, perfumes, liquor, and tobacco.

    What will be the future focus of Shinsegae DF?
    Following the closure of its DF2 zone outlet, Shinsegae DF will focus on its remaining operations in the airport’s DF4 zone and its downtown store in Myeongdong.

  • Central Phuket opens luxury VIP Zone

    Central Phuket opens luxury VIP Zone

    Thai property developer and the operator of Central Phuket shopping centre, CPN, has celebrated a new luxury zone with the launch of a range of world-class brands.

    The company says the new stores are being introduced in line with “the rapid growth and high demand of the affluent world tourist market in support of Thailand’s tourism industry’s move to elevate Phuket city as a global beach lifestyle destination comparable to the French Riviera, Miami, and Hawaii”.

    “As a global player, we aim to elevate Central Phuket to become one of the most complete travel destinations in the world,” said CPN deputy CEO Wallaya Chirathivat. “Central Phuket has the concept of ‘The Magnitude of Luxury & Leisure Resort Shopping Destination’ in the form of a ‘Beach Lifestyle’, which perfectly matches with Phuket as a beach city comparable to the world’s greatest beach cities. We truly appreciate that the global luxury brands have placed trust and confidence in our project as the first luxury mall located outside Bangkok, Thailand.”

    To mark the occasion, Central Phuket held a grand celebration entitled “The Unveiling of the New World of Luxury” highlighting the prestigious “Universe of Sirivannavari: The First View from Paris to Phuket” exhibition. HRH Princess Sirivannavari Nariratana allowed the exhibition to be held for the first time in Thailand at Central Phuket Floresta from April 28 to May 26.

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  • Game of Thrones exhibition flown in for Cityplaza

    Game of Thrones exhibition flown in for Cityplaza

    PCCW Media’s OTT entertainment platform Now E is staging a Game of Thrones exhibition at Cityplaza’s second-floor atrium and centre bridge for a fortnight, starting today.

    The mall promotion has been created in partnership with HBO and heralds the approaching end of the cult TV series hit.

    An Iron Throne has been flown into Hong Kong to become the centrepiece of the Game of Thrones exhibition and eight interactive zones have been set up to recreate scenes from the TV series.

    The final season of Game of Thrones premiers in the US and Hong Kong on Monday (April 15).

    The Now E x HBO Go: Game of Thrones Ultimate Experience’s interactive exhibition zones, each represent classic scenes and characters from the show.

    Mall visitors will be invited to sit on the Iron Throne and take pictures with 3D Stereoscopic Paintings.

    Another exhibition highlight will be Viserion, a six-metre-long ice dragon weighing more than 1360kg.

    Exhibition goers will be able to have photos taken with characters in front of a display wall, or pretend to be a White Walker in an interactive photo zone.

    In another feature of the installation, fans can get their own House Sigil Leather Coasters to represent their favorite kingdoms.

    On arrival at Cityplaza, visitors will each receive a Game of Thrones exhibition passport and receive a limited-edition Four House Sigil sticker by collecting all four stamps at the interactive zones.

  • Halal zone to appear in Pulogadung Industrial Area

    Halal zone to appear in Pulogadung Industrial Area

    Halal Zone will soon arrive in Pulogadung Industrial Area, East Jakarta, serving as a showcase for Indonesias halal industrial products, officials said.

    “Halal Zone will have facilities that support halal management and halal product distribution,” Financial and Supporting Director of PT Jakarta Industrial Estate Pulogadung (JIEP) Sitta Izza Rosdaniah stated here on Friday.

    The zone will feature Moslem Fashion Hub, MICE (Meetings, Incentives, Conferences, and Events), Halal Warehouse, Halal Laboratory, Shariah Finance Centre, National Creative Industry and Training Centre, Halal Lifestyle Showcases, National Logistics Centre, Halal Culinary Centre, and Organic Urban Farming.

    “We want establish a halal laboratory in the industrial area,” Sitta noted, adding that the facilitys management will prioritize small and medium enterprises to help them develop their businesses.

    According to her, these enterprises need support to meet halal standards for their products.

    “This is the meaning of a halal zone, where people can get assistance and the opportunity to consult with experts,” Sitta remarked.

    JIEP also provides special facilities for all business sectors in the industrial area.

    On August 2016, in Jakarta, JIEP signed a Memorandum of Agreement (MoA) with the Indonesian Port Corporation (IPC) on the Study of Development and Operation Cooperation in the Pulogadung Industrial Area.

    The agreement was for the preparation of a study of an Integrated Logistics Area for an International Halal Hub in the JIEP area.

    The MoA is aimed at establishing a partnership and synergy between JIEP and Pelindo to develop the International Halal Hub and Halal Port.

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