Hotel Shilla, Samsung Group’s hotel and duty-free business unit, said Tuesday that it would open its new duty-free store at Macau International Airport on Nov. 7 jointly with Hong Kong’s Sky Connection.

It will be the Korean luxury hotel and duty-free chain’s second overseas branch, following the first one at Singapore Changi Airport.

According to company officials, the new store will span 1,122 square meters, almost half of Macau airport’s total duty-free zone.

While Hotel Shilla will handle beauty and fashion items, Sky Connection, a Hong Kong-based duty-free business operator, will focus on liquor, tobacco and locally produced products.

The two companies set up the 40-60 joint venture to participate in the bidding race that opened in June for the Macau business.

The Macau airport is one of the fastest-growing international airports, with an annual passenger capacity of 5 million. Most of the passengers are Chinese nationals or from neighboring regions like Hong Kong and Taiwan.

The joint venture forecast $480 million in sales over the next five years, officials said.

“By securing the business rights at the Macau airport, we are extending our presence into the Northeast Asian region. We will continue efforts to nurture our global competitiveness,” said Cha Jeong-ho, vice president of Hotel Shilla.

By Lee Ji-yoon (jylee@heraldcorp.com)