"Domestic Market is Narrow"... 'K-Franchise' Expanding Overseas Territories

bhc plans first store in Singapore in first half of this year
Kyochon-La Copa agreement... targeting local Taiwanese tastes
School Food discusses market entry with Hong Kong Tenwin International Holdings

Dining franchise companies are accelerating their expansion into overseas markets. Thanks to the K-content boom, interest and popularity in K-food are rising, and as we enter the endemic phase, the number of tourists in various countries is increasing, leading to growing demand for dining out.

bhc Chicken Malaysia's first store opened in 'Retail Park,' a shopping center in the Mont Kiara area of Malaysia. Photo by bhc Chicken

According to the industry on the 19th, bhc Chicken plans to open its first store in Singapore in the first half of this year. They are also preparing for the North American market. In November last year, they opened their first store in Kuala Lumpur, Malaysia. The bhc Group is considering overseas expansion not only for bhc Chicken but also for other dining brands such as premium Korean beef specialty restaurant Changgo43.

BBQ, which entered the North American market early, currently operates about 150 stores across 20 states in the United States. In addition to the U.S., it has expanded to 57 countries including Japan and Taiwan, with around 500 global stores. Riding the popularity of K-food, BBQ is gaining great popularity among locals and tourists alike, and is rapidly expanding its delivery stores to secure a foothold in the U.S. market.

Kyochon Chicken also signed a memorandum of understanding for a master franchise agreement with Taiwan’s leading dining company, Lakapa International Group. Kyochon Chicken plans to target local tastes by selling chicken together with craft beer.

Additionally, egg sandwich brand Egg Drop opened its first overseas store in Thailand at the end of last month, kicking off its global business, and SF Innovation, which operates School Food, signed a business agreement with Hong Kong’s Tenwin International Holdings for global market expansion.

Professor Seo Yong-gu of the Department of Business Administration at Sookmyung Women’s University said, "The domestic market in Korea is already saturated and shrinking as disposable income decreases, leading to a contraction in the dining industry. Overseas markets are now a boon for K-food due to the Hallyu wave. With populations of 40 million in Thailand and 100 million in Vietnam, it is an excellent time and condition for companies to expand into overseas markets."