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Lotte Duty Free gets Gimpo contract

Korea Airports Corp announced that Hotel Shilla Duty Free Shop has been awarded Section A and Hotel Lotte Duty Free Shop Section B in a tender to select operators of duty free stores at the Gimpo Airport’s international terminal. Section A is allotted for cosmetics and perfume and B for liquor and tobacco. Shilla plans to launch operations in May-2011. Lotte Shopping Co shares eased 0.1% in trading.

gategroup shares dropped 4.4%, the largest single-day fall since Feb-2011. Hellenic Duty Free and DO & CO traded more strongly.

Selected Duty Free daily share price movements (% change): 11-Mar-2011