Mom's Touch signs franchise agreement with Mongolian firm

South Korean homegrown burger and chicken brand Mom's Touch & Co. announced on Tuesday that it has signed a master franchise agreement with local company Foodville Farm to enter the Mongolian market.

Foodville Farm is a corporation established by Ariunbat Dashzeveg, the chairman of Mongolian franchise company Monbakery LLC, for the Mom's Touch business.

Chairman Ariunbat also runs a poultry farm and will be able to provide a stable supply of chicken to Mom's Touch Mongolian stores.

Mom's Touch plans to open more than six stores in Mongolia with Foodville Farm by the end of the year. They plan to open their first location in Mongolia in the first half of the year and offer their flagship menu items, such as the Thigh Burger and Yangnyeom Chicken.

Mom's Touch explained that it decided to enter this market as there has been a growing interest in Korean products and K-food in Mongolia due to the spread of Korean Wave content.

The company also considered Mongolia's economic growth rate of more than 5% a year and the fact that over 60% of the population is under the age of 35 and has a good acceptance of foreign cultures.

Write to Kyeong-je Han at hankyung@hankyung.com