GS25 Opens First Franchise Store in Vietnam... "Full-Scale Overseas Franchise Business Launch"

GS25 has opened its first franchise store, Masterian Phu, targeting local residents in Vietnam, becoming the first convenience store brand in the domestic market to do so.

[Asia Economy Reporter Lim Chun-han] GS25 announced on the 12th that it has opened its first franchise store for local residents in Vietnam, the Masterian Phu branch, marking the first time in the domestic convenience store industry to franchise to local individuals in Vietnam.

The first franchise store for local residents was achieved four full years after GS25 opened its first store in Vietnam in January 2018. As of the end of November, GS25 Vietnam operates 145 stores and has risen to become one of the 'Big 3' convenience stores.

This first store is operated by a Vietnamese individual among about 100 prospective franchise owners, who has extensive work experience at a local Korean company and a high understanding of Korean culture. GS25 Vietnam has set mid- to long-term goals including ▲ entering the Hanoi area in 2022 ▲ turning profitable by 2025 ▲ opening 700 stores by 2027 as it accelerates franchise expansion this year.

GS25 also plans to expand as a global franchise brand by setting a goal to open 500 stores in Mongolia by 2025.

Jung Jae-hyung, Executive Director and Head of Convenience Store Business Division at GS Retail, said, “GS25 Vietnam has localized the successful DNA of K-convenience stores and achieved significant growth in a short period, standing shoulder to shoulder with Japanese convenience store brands that entered earlier. Based on the successful experience in Vietnam, we will actively expand our global franchise business and make it a new leap forward.”

This content was produced with the assistance of AI translation services.