Kyochon Chicken Signs MFA for Entry into Canada... Full-Scale North America Expansion Begins

Kyochon Chicken Buena Park Store, USA.
[Photo by Kyochon F&B]

Kyochon F&B announced on the 21st that it has signed a Master Franchise (MF) agreement with Canadian local company Mirae F&B Holdings to officially target the North American market.

This agreement was signed on the 16th (local time) between Kyochon USA, a subsidiary of Kyochon’s U.S. corporation, and Canadian local company Mirae F&B Holdings.

Mirae F&B Holdings is a subsidiary of Mirae Investment, which operates in the local Canadian market in sectors such as food service, wholesale and retail, lodging, and gas stations. Mirae Investment runs numerous Korean restaurants and food material marts locally, possessing extensive experience and know-how in the food service industry.

Through this agreement, Kyochon will enter three western Canadian provinces: British Columbia, Alberta, and Saskatchewan. Western Canada is a multicultural region with a relatively high proportion of Asians and a strong preference for Asian cuisine. It is also a region where K-food consumption has been steadily increasing recently due to the influence of the Korean Wave. The first store is planned to open within this year in Vancouver, one of Canada’s three largest cities and home to a well-established Korean community.

Following last year’s entry into Hawaii, USA, Kyochon plans to accelerate its North American market expansion with this MF agreement in Canada. The company aims to open 30 stores in western Canada over the next five years, and the first store in Hawaii is scheduled to open in the first half of this year. Additionally, Kyochon currently operates three stores in the western U.S. region through its directly managed corporation.

A Kyochon F&B Global Business Development representative stated, “The North American region is the center of the global food service industry and a market symbolizing global business. We will do our best to successfully establish and expand in the Canadian market by leveraging a global expansion model, smart stores applying advanced IT technology, and menu localization.”

Meanwhile, Kyochon currently operates a total of 67 stores across six overseas countries (USA, China, Malaysia, Indonesia, Thailand, UAE).

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