KFC Korea Nears Master Franchise Agreement for Taco Bell

Negotiations Underway with Yam Brand Headquarters
Taco Bell, 11 Stores Including Yeongdeungpo Times Square

KFC Korea announced on the 11th that it is positively progressing in master franchise contract negotiations with Yum Brands headquarters, a global dining company owning KFC, Pizza Hut, Taco Bell, and others, as well as Taco Bell Korea.

If this negotiation is successful, KFC Korea will secure the master franchise rights for Taco Bell in the Korean market and become one of multiple franchise operators of Taco Bell in Korea. Through this, it plans to rapidly expand the number of Taco Bell stores based on successful franchise operation know-how in the domestic market and a friendly relationship with Yum Brands. It is also expected to diversify its dining portfolio and secure new growth drivers.

Taco Bell, a subsidiary of Yum Brands, is a global Mexican brand operating approximately 7,000 stores across 30 countries worldwide. In Korea, it opened its first store in Yeongdeungpo Times Square in 2014 in partnership with Calisco and has been focusing on improving profitability, currently operating 11 stores nationwide.

A KFC Korea official stated, "Taco Bell is a brand that has led trendy dining culture with its differentiated concept of Mexican food, and we expect it to create great synergy with KFC." He added, "We are positively discussing with private equity firm Orchestra PE and Yum Brands to successfully conclude the Taco Bell master franchise contract negotiations, and we will do our best to achieve good results."

Meanwhile, specific contract terms and future business plans will be disclosed additionally once the negotiations are finalized.