Taco Bell Adopts Multiple Master Franchise System
Plans to Accelerate Taco Bell's Growth in Korea
KFC Korea announced on the 4th that it has signed a master franchise agreement for Taco Bell in Korea with Yum Brands, the global foodservice company that owns Taco Bell.
KFC Korea has secured the rights to develop and operate Taco Bell stores domestically and has become one of multiple franchise operators of Taco Bell in Korea alongside the existing franchise operator. KFC Korea has obtained "priority rights" for opening Taco Bell stores and overall business operations in the Korean market. This means that if the contract with the existing franchise operator expires in the future, KFC Korea will have the priority to exclusively develop and operate Taco Bell in Korea. These priority rights are expected to serve as a key foundation for KFC Korea to lead the expansion of the Taco Bell brand in Korea, based on its collaboration with Orchestra PE.
Taco Bell entered the Korean market in 1991 and currently operates a total of nine stores in Incheon International Airport, Seoul, and the Gyeonggi region. Han Jong-su, General Manager of Taco Bell Business Division at KFC Korea, said, "Now that the Mexican food market is expanding domestically, this is the optimal time to introduce Taco Bell’s unique Mexican-style menu to Korean consumers," adding, "We will lead meaningful growth of Taco Bell in Korea through differentiated services."
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