business

Duty-free loss adds to troubles for Lotte Group

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Lotte, which had held the license for five years, had already invested 300 billion won ($255 million) in the store and the customs agency decision shattered its ambitions to grow it into the world’s largest duty-free outlet over the next decade.

Counting unhatched chickens? Old-school (ahem) negotiation must have failed.

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Didn't their shares go thru the roof when they were awarded one of the Seoul duty free slots??

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