Dow Jones Newswires: Chicken chain Popeyes to launch in South Korea
Popeyes is set to launch in South Korea this year, the latest international move for the chicken brand owned by Restaurant Brands International Inc. QSR, -0.91%.
A unit of South Korean conglomerate Silla Group entered an exclusive Master Franchise and Development Agreement to develop and open hundreds of Popeyes locations.
Popeyes has more than 3,600 restaurants in over 25 countries. In 2021, the chain announced plans to enter the U.K., Romania, France and India, and expand in Mexico and Saudi Arabia.
As of early December, Yum Brands Inc.’s YUM, -1.68% KFC had more than 26,000 restaurants in over 145 countries and territories.
For Restaurant Brands, global successes have included Burger King’s late 2012 relaunch in France after completely disappearing from the country. In October, S&P Global affirmed its ratings for Burger King France and raised its outlook to stable from negative, noting a “strong pick-up” in first-half sales and “resilient” margins.