Under the agreement, the two will work together to develop new product packages combining duty-free shopping and tourism in the Southeast Asian nation.

    Amid many tourist destinations in Vietnam favoured by RoK visitors such as Da Nang, Nha Trang, Phu Quoc, and Da Lat, the two firms have co-operated to create synergy such as expanding customer interaction points and developing products aimed at serving tourists and combining duty-free shopping and tourism.

    Lotte Duty Free and Modetour have outlined a cooperation plan to promote tourism in Vietnam by coming together to sell package travel products nationwide.

    They are set to deploy joint marketing activities, including advertising and using social network services, while simultaneously setting up close linkages in a bid to ensure development strategies and long-term benefits for both sides.

    Statistics show that by 2023, the highest proportion of passengers from Southeast Asia in the total number of passengers on package tours provided by Modetour stood at 53%. The rate of visitors to Vietnam was the highest among the Southeast Asian nations, with 44%.

    Lotte Duty Free currently operates four branches in the Vietnamese market, including two in Da Nang, one in Nha Trang, and the other in Hanoi. In 2023, Lotte Duty Free's annual sales in Vietnam increased by 351% year-on-year, with Korean tourists making up about 60%.

    Lee Seung-jun, head of Lotte Duty Free’s overseas business department, said in response to Korean tourists’ growing demand for duty-free shopping in Vietnam, particularly after the COVID-19 pandemic, the firm has partnered with Modetour to enhance customer benefits.

    Lee Woo-Yeon, director of Modetour's Southeast Asia business division, said as Vietnam is one of the most popular destinations for RoK travelers, Modetour expects to provide better services through this MoU with Lotte Duty Free./.

 Source: Vietnam Communist Party website