By Kim Han-joo
SEOUL, Nov. 1 (Yonhap) -- Shilla Duty Free, South Korea's leading duty-free operator, said Friday it has won a liquor and tobacco concession at Macau International Airport in the latest move to make further inroads into the Asian market.
The retailer will operate the concession on the northern side of the airport that spans 1,122 square meters across, which accounts for half of the total airport area, the duty-free operator said.
The concession will also have stores that can sell perfumes, cosmetics, clothing and miscellaneous goods.
The contract will last for five years until November 2024.
In 2014, Shilla Duty Free opened its first overseas outlet at Changi Airport. Since then, the company has been operating duty-free shops at four terminals at the Singapore airport. It also operates duty-free shops at Hong Kong International Airport and Incheon International Airport.
Shilla Duty Free also recently acquired a 44 percent stake in U.S. duty-free specialty retailer 3Sixty for US$121 million.
The Korean company, which posted annual sales of over 1 trillion won ($854 million) in overseas markets last year, expects to reap $600 million in Macau over the next five years.
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