Kyochon sets sights on Western expansion with Canadian franchise deal

Kyochon F&B, the operator of South Korea's premier fried chicken brand Kyochon Chicken, said on Tuesday that it has secured a master franchise agreement with a Canadian company to expand locally.

The agreement was entered into by Kyochon USA, a subsidiary of Kyochon's American corporation, and Mirae F&B Holdings, a subsidiary of Mirae Investment, a company involved in the management of food service, retail, lodging, gas station enterprises and others in Canada.

With the latest strategic partnership, Kyochon aims to establish its presence in Western Canada, with Vancouver as its first target, home to a flourishing Korean community. Kyochon is eyeing to open 30 new stores in the region in the next five years.

In other developments, Kyochon is also planning to open its first Hawaiian location in the first half of this year. While the company already operates three outlets in the western US region, it currently has 67 stores across six foreign countries, including China, Indonesia, Malaysia, Thailand, the UAE and the US.

Write to Jiyoon Yang at yang@hankyung.com