On July 5, Incheon International Airport's Terminal 1 food street was bustling with travelers even before lunchtime. At 10 a.m., the food court 'Food Empire,' operated by Our Home, was crowded with both domestic and international visitors, making it hard to find an empty seat. After expanding its size by opening the eastern section in October last year, Food Empire now features a variety of dining options, including Hanokjip Kimchi Stew and Namsan King Pork Cutlet on the west side, and Cheongjindong Sundubu, Kontai (Thai), and Nimat (halal) on the east side.
Navin, an Indian traveler who ordered halal dolsot bibimbap at Nimat, expressed his relief, saying, "It can be challenging to find strictly halal food at airports or in Korean cities, so I’m glad to enjoy familiar Korean cuisine with confidence." Nearby, a robot barista from Hanwha Robotics caught the attention of travelers as it prepared espresso at the 'AeroBot Bar.'
Taking the escalator down to the first floor, the Lotte GRS-operated food court 'Plating' faced a Lotte리아 store across the aisle. Plating features popular Korean brands such as Sodam Bansang, Hyoja Gomtang, and Gongpyeongdong Donkatsu.
Differentiating itself from regular stores, a Paris Baguette outlet in the Terminal 2 departure area prominently displayed gift items. The airport-exclusive 'Annyeong Sandwich' quickly gained popularity, selling over ten boxes in less than a minute to both local and international customers.
Located in the basement of T2, Our Home's 'In the Box' store is filled with refrigerated and room-temperature items, offering easy-to-grab options like keto gimbap, sandwiches, and salads. A customer named Kim remarked, "I was looking for something quick to eat before my flight, and it’s convenient to buy without waiting."
◆ Incheon Airport, with 70 million annual passengers, emerges as a K-Food hub
The surge in passenger numbers has prompted companies to invest in airport concessions. According to Incheon International Airport Corporation, the annual passenger count reached 74.07 million last year, surpassing pre-pandemic levels of 71.17 million in 2019. On February 14, during the Lunar New Year holiday, the airport recorded a daily high of 247,104 visitors. Projections suggest that this year's total passenger count could reach as high as 78.55 million.
The bustling 'Incheon Airport commercial area' commands significant rental fees. In the bidding for the 2023 Incheon Airport food and beverage complex, Our Home offered an annual rent of 27.3 billion won, while Paris Croissant bid 18.9 billion won, and Lotte GRS proposed 11.1 billion won. The exclusive food court area for departing passengers was secured by Lotte GRS (10.5 billion won) and CJ Freshway (10.3 billion won), while the lounge operation rights went to Pulmuone Food & Culture (12.7 billion won).
Following the acquisition of business rights, companies are aggressively expanding. CJ Freshway opened the 'Gourmet Bridge' food court in both T1 and T2 earlier this year, establishing a foundation with a total of four locations and 1,500 seats. Lotte GRS recently opened a new location in T1, completing its network of five food courts and 49 stores at Incheon Airport. SPC operates over 30 brands, including Paris Baguette and Pascucci, throughout the airport. Our Home also manages over 30 stores, including Food Empire and Hansik Sodamgil, in T1 and T2.
While the airport concession business is now a vital growth engine for promoting K-Food, it faced a dark period just a few years ago during the COVID-19 pandemic. With passenger numbers plummeting, major food and beverage operators saw their revenues drop to one-tenth of normal levels, and store operating rates fell to around 30%.
Thanks to the recovery in passenger numbers, the Incheon Airport concession business has become a significant revenue source for dining companies. Lotte GRS reported sales of 1.1189 trillion won last year, rejoining the 'trillion club' for the first time in eight years, driven by growth in the airport concession business. CJ Freshway also saw a 70.1% increase in concession sales in the fourth quarter of last year compared to the same period the previous year, while Our Home's airport concession sales rose by 7%. Notably, the influx of foreign tourists has positioned these companies as key players in promoting K-Food.
An industry insider stated, "With the clear recovery of airport passengers post-COVID-19, concessions have firmly established themselves as a core business for large corporations. As they can naturally promote their brands to foreign visitors, the demand for store placements is high, making it a crucial foundation for stable future profits."
* This article has been translated by AI.
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