Lotte Duty Free, the South Korean travel retail company, on Monday announced it would open its second duty-free shop at Cam Ranh International Airport next year.

According to the company, it has been granted permission, valid until 2028, to open a duty-free store at Cam Ranh International Airport’s new terminal in the first half of 2018. It hopes the new store will earn revenue of up to 700 billion Korean won (US$664 million) in the next 10 years.

Lotte Duty Free opened a similar store at Da Nang International Airport in early November, making it the first South Korean duty-free retailer to enter Viet Nam’s market. Lotte Duty Free is the travel retail arm of South Korean conglomerate Lotte Group, with six duty-free stores in Viet Nam, Indonesia, Japan, Thailand and Guam. — VNS