Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) Jiye Kim Journalist = Shinsegae group officially announced its bid for a new downtown duty-free store in Seoul. The group states on September 22, that it will apply for a license in Seoul and Busan in an effort to stay ahead of the competition.

Shinsegae DF, a separate entity of the group, proposed the main branch in Myeongdong as a candidate for upcoming match. In Busan, it is a Shinsegae Centum City waiting for the battle.

The group will renew its operating license for Paradise Duty Free, with an enlarged, relocated store at Centum City B area in the city of Busan. The scale of the shop will be expanded from its original building-6,940 square meters(2,100 in pyung) to the new one-8,600 square meters(2,600 in pyung) in next year.

Sung Young-mok, who is in charge of Shinsegae's duty free business delivered in his speech that the company will propose a multi-complex shopping center, blended in with traditional Namdaemoon market in Myeongdong, the nation’s number 1 tourist attraction. He added,"For Busan, we will relocate the duty-free shop to Shinsegae Centum City to recreate it as Busan's tourism icon."

NSP News Agency/NSP TV Jiye Kim Journalist, graekim@nspna.com
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