Fried chicken franchise Kyochon to explore new markets for expansion
Kyochon F&B's outlet in China / Courtesy of Kyochon F&B
Kyochon F&B, one of Korea's major fried chicken restaurant brands, said Tuesday it will focus on exploring new overseas markets this year as it seeks to expand its global presence.
Kyochon has recently opened its 20th outlet in China. The store is located in Shenzhen, which is also referred to as China's Silicon Valley.
"This year, we will put a bigger focus on enhancing our brand awareness in overseas markets and looking into new markets for growth," a company spokesperson said over the phone.
It operates 1,362 domestic outlets and 85 overseas ones in seven countries. There are four stores in the United States — three in Los Angeles and one in Hawaii.
For all of 2024, its net profit plunged 96 percent to 543 million won ($370,000) from 12.8 billion won a year earlier due to one-off costs. (Yonhap)