Starting business in early 2018, in line with the completion of the new terminal, Lotte Duty Free expects to log some 700 billion won ($644 million) of sales through the 10 years of operation.

Earlier this month, Lotte opened a store at Da Nang International Airport, becoming the first Korea duty-free operator to enter the Southeast Asian country.

The latest launch of a second Vietnamese outlet reflects the Korean conglomerate’s efforts to expand its overseas business. Lotte is the world’s third-largest duty-free operator, after Swiss-based Dufry A.G. and US-based DFS.

Lotte Duty Free currently runs six airport stores and city branches in Vietnam, Indonesia, Japan, Thailand and Guam.

By Shim Woo-hyun (ws@heraldcorp.com)