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韩国三大旅游零售巨头乐天免税店、新罗免税店和新世界免税店均通过法院寻求租金减免，使得该国旅游零售业再度成为法律焦点。
乐天免税店早前提起诉讼，要求韩国机场公司退还该零售商在2020年3月至8月疫情期间支付的机场租金，首尔高等法院将在近期就此做出判决。乐天免税店表示，对判决持乐观态度。
乐天免税店在2023年仁川国际机场大型招标中以审慎态度竞价，因此如果机场现在给予其竞争对手任何减免政策，乐天很可能会提出异议 {数据来源：《穆迪达维特免税报告》}
公司向《穆迪达维特免税报告》表示，韩国最高法院本月刚刚就该诉讼做出了有利判定，从而为其增添了信心。
由于韩国政府在当时疫情期间整合了仁川国际机场的所有国际航班，乐天免税店被迫在这几个月内暂停了其在金浦和金海机场的门店运营。因此，这家旅游零售商要求韩国机场公司退还租金。韩国最高法院裁定，由于金浦和金海国际航站楼实际上已关闭，租户无法履行合同义务，因此建议韩国机场公司全额退款。首尔高等法院即将做出最终裁决。
乐天免税店的主要竞争对手新罗免税店和新世界免税店也正通过法律途径寻求租金减免，但它们的原因与乐天免税店截然不同。
据韩国权威商业媒体《Bizwatch》报道，新世界免税店于4月29日向仁川地方法院提交了申请，要求仁川国际机场调整租金；新罗免税店也于5月8日提交了同样申请。《穆迪达维特免税报告》已通过可靠消息来源证实了这些请求。
新罗免税店在仁川国际机场享有高知名度，这一点在今年2月与兰蔻举办的90年庆祝合作中得到了体现。然而，曝光度不一定会转化为盈利能力 {图片来源：Blue Eagle}
这两家零售商均要求将仁川机场1号和2号航站楼香化、酒类和烟草类门店的租金降低40%。《穆达》已分别向两家公司寻求回应，新罗免税店拒绝置评。
一位知情人士向《穆达》透露：“新罗免税店曾多次向仁川国际机场提出减租请求，但均遭拒绝。最终，新罗免税店别无选择，只能通过法院寻求调解。业界希望双方对免税业当前困境的共同理解，将有助于为建设性的未来发展铺平道路。”
新世界免税店的租金对收入比率将上升
《Bizwatch》指出，寻求减免租金能带来可观的财政缓解。“仁川机场每月客流量约为300万人次，新罗免税店和新世界免税店每月支付的租金高达270亿韩元（约合1950万美元），相当于每年超过3000亿韩元（约合2.17亿美元）。”
“这是一个巨额数目，相当于新罗免税店年销售额的10%，新世界免税店的14%。去年，这两家公司分别录得758亿韩元（约合5490万美元）和197亿韩元（约合1430万美元）的营业亏损，其中一大原因就是仁川机场租金负担过重。”
尽管新世界免税店在仁川国际机场推出了一些出色的零售举措，但仍面临与新罗免税店相同的压力。图为新世界与迪奥今年早些时候在T1开设的韩国旅游零售业首家“One Dior”概念精品店 {来源：新世界免税店}
新世界免税店在接受《穆达》采访时澄清了这些数字：“我们2024财年的官方报告收入为2.006万亿韩元，而韩国海关的数据约为3.1804万亿韩元。这两个数字之间的差异源于不同会计方法和范围的差异。”
“关于仁川国际机场的租金对收入比率，14%这个数字经常被提到，这反映的是门店全面正常运营的情况下，我们预期的租金负担。然而，由于我们的部分门店在2024年期间作为临时门店运营，实际租金比率略低。随着路易威登复式店于今年6月开业，我们几乎所有的仁川机场门店都将以标准门店的形式运营。因此，我们预计租金比率将会比去年有所上升，”公司补充道。
乐天免税店提出“公平性担忧”
乐天免税店在2023年大型招标中以低价竞标，从此完全退出了仁川国际机场。这一做法基于公司对现有和未来市场状况，以及在仁川开展业务可能产生的惩罚性成本的谨慎考虑。
乐天免税店已于2018年7月31日退出了在仁川1号航站楼的美妆、时装和皮革制品的合同，理由是2017年“萨德”问题导致中国游客数量急剧下降后，租金上涨带来的负担。新世界免税店随后接手了这些合同。
乐天免税店在2023年竞标中表现谨慎，因此如果机场现在给予其竞争对手任何减免政策，乐天很可能会提出异议。
公司告诉我们：“必须澄清的是，我们的诉求与新罗免税店和新世界免税店近期提出的有关仁川国际机场租金调整申请有着根本的不同。”
“乐天免税店的情况是，由于政府强制关闭国际航站楼，其运营已完全暂停，无法开展业务活动。相比之下，其他两家公司则在寻求降低仁川国际机场合同的租金，而这些合同是它们通过竞标获得的。给予此类租金减免，可能会引发人们对在相同竞标条件下参与竞标的其他免税运营商和商业租户的公平性抱有担忧。”
因此，仁川国际机场正面临一个两难局势，而这种困境似乎正在周期性地困扰着韩国免税零售业。眼下法院必须做出裁决，但无论最终结果如何，都很难真正地解决根本问题。
More turmoil in South Korean duty free as Lotte, Shilla and Shinsegae all pursue rent relief
The country’s travel retail sector is once again under the legal microscope as the sector’s three giants – Lotte Duty Free, The Shilla Duty Free and Shinsegae Duty Free – all seek rent relief through the courts.
As reported, Lotte Duty Free (through Hotel Lotte and Busan Lotte Hotel, the respective parents of its Gimpo and Gimhae airport operations) is optimistic the Seoul High Court will rule in its favour regarding a refund of airport rent fees paid to Korea Airports Corporation in the pandemic-ravaged months of March to August 2020.
Its confidence follows a favourable Supreme Court ruling this month, the company told The Moodie Davitt Report.
Due to the South Korean government’s consolidation of all international flights at Incheon International Airport during the COVID-19 crisis, the company was compelled to suspend operations at its Gimpo and Gimhae Airport stores during those months.
As a result, the travel retailer filed a lawsuit against Korea Airports Corporation seeking a refund of rental fees. The Supreme Court of Korea this month ruled that because the Gimpo and Gimhae international terminals were effectively shut down, it was impossible for tenants to fulfill their contractual obligations and recommended a full refund. The Seoul High Court will now rule.
While Lotte Duty Free is not alone among Korean travel retailers in seeking rent relief, its case is markedly different in origin from those of its archrivals, The Shilla Duty Free and Shinsegae Duty Free.
According to influential business media Bizwatch, Shinsegae Duty Free filed an application for rent adjustment at Incheon International Airport to the Incheon District Court on 29 April, while The Shilla Duty Free followed suit on 8 May. The Moodie Davitt Report has verified these challenges through reliable sources.
Both retailers are understood to be requesting a -40% reduction in rent for cosmetics, perfume, liquor, and tobacco stores in Terminals 1 and 2.
The Moodie Davitt Report has sought a response from both retailers. The Shilla Duty Free declined to comment.
An informed source close to the matter told The Moodie Davitt Report, “The duty-free store retailer has made multiple requests to Incheon International Airport for rent reduction, but they were declined. As a result, The Shilla Duty Free was left with no choice but to seek mediation through the court.
“It is to be hoped that a shared understanding of the ongoing difficulties in the duty-free industry will help pave the way for a constructive path forward.”
Shinsegae Duty Free’s rent-to-revenue to increase
Bizwatch noted the high stakes involved in seeking relief. “Considering that the number of passengers at Incheon Airport is around 3 million every month, the monthly rent paid by Shilla Duty Free and Shinsegae Duty Free is KRW27 billion (US$19.5 million). This is well over KRW300 billion (US$217 million) per year.
“This is a huge amount of money, equivalent to 10% of Shilla Duty Free’s annual sales and 14% of Shinsegae Duty Free’s annual sales. The two companies posted operating losses of KRW75.8 billion (US$54.9 million) and KRW19.7 billion (US$14.3 million), respectively, last year, probably due to the burden of rent at Incheon Airport.”
Clarifying those numbers, Shinsegae Duty Free told The Moodie Davitt Report, “Our officially reported revenue for the 2024 fiscal year stands at KRW2.006 trillion. The figure compiled by Korean Customs is approximately KRW3.1804 trillion. The discrepancy between the two numbers arises from the difference in accounting methodology and scope.
“Regarding the Incheon International Airport rental rates, the oft-mentioned figure of 14% of revenue reflects the expected rental burden under full normal store operations.
“However, since a portion of our stores operated as temporary locations during 2024, the actual rent percentage was slightly lower. With the opening of the Louis Vuitton duplex store this June, virtually all of our Incheon Airport stores will be operating as standard stores. As a result, we anticipate the rent-to-revenue ratio to increase compared to last year.”
Lotte Duty Free raises “fairness concerns”
The biggest challenge to both retailers’ chances of success lies in the giant form of Lotte Duty Free, which has been out of Incheon International Airport altogether since its lowball bid on the 2023 mega-tender. That approach was based on a cautious view of existing and future market conditions and the potentially punitive cost of doing business at Incheon.
Lotte Duty Free had already exited its Incheon Terminal 1 cosmetics, fashion and leathergoods contracts on 31 July 2018, citing “the burden of rent increases” following the sharp downturn in Chinese tourists in 2017 amid the THAAD dispute with China. It was replaced by Shinsegae Duty Free.
Lotte Duty Free’s prudence in the 2023 bid, as the company implies to The Moodie Davitt Report, would almost certainly prompt it to challenge any relief given to its rivals.
Flashback to a celebratory day for Lotte Duty Free as it unveiled its refurbished perfumes & cosmetics store at Seoul Gimpo Airport on 31 May 2023, a far cry from the dark days of the pandemic
The company told us, “It is important to clarify that our case is fundamentally different from the recent rent adjustment claims filed by The Shilla Duty Free and Shinsegae Duty Free [relating to Incheon International Airport Corporation rents].
“In Lotte Duty Free’s case, operations were entirely suspended due to the government-mandated closure of international terminals, making business activity impossible.
“In contrast, the other companies are seeking rent reductions on [Incheon International Airport] contracts awarded through competitive bidding. Granting such rent relief could raise concerns about fairness among other duty-free operators and commercial tenants at Incheon International Airport who participated under the same bidding conditions.”
Incheon International Airport was therefore faced with a dilemma of the sort that seems to periodically plague the duty-free retail sector in the so-called ‘Land of the morning calm’ where life is often anything but so.
Now the courts must decide. But whatever those decisions, they may not be the end of the matter.
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