Shilla Duty Free has announced that it has secured a license to run duty free concessions at Hong Kong International Airport, according to a report published by Pulse News.

The South Korean travel retail and hotel operator, which is owned by Samsung Group, will open perfume, cosmetics and fashion accessories concessions at the airport by the end of the year. The contract runs until September 2024.

Some 7.05 million passengers passed through Hong Kong International Airport in 2016, and the deal is thought to be worth some KRW1 trillion to Hotel Shilla in sales. Hotel Shilla won the license via a competitive auction, pipping rival Lotte Duty Free to the post.