Popeyes re-enters South Korean market, plans to open hundreds of outlets

It exited in 2020 after falling sales.

Mandy How | January 06, 2022, 06:38 PM

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Popeyes is re-entering the South Korean market with big plans after pulling out of the market in 2020.

A press release on Jan. 3, 2022 announced a master franchise and development agreement between Popeyes' parent company, Restaurant Brands International (RBI), and South Korean company Silla Group.

Restaurant Brands International (RBI) is a Canadian-American multinational company that owns Burger King and Tim Hortons.

The fried chicken chain entered South Korea in 1994, but exited in 2020 after fierce competition from new entrants offering similar products at affordable prices, according to The Korea Times.

At its peak, Popeyes had more than 200 outlets in the country, but it was left with just 10 outlets in 2019.

TS Food & System, which previously operated Popeyes in Korea, subsequently terminated its licensing contract.

In the coming years, Popeyes is aiming for "hundreds of restaurants," with the first slated to open in 2022.

Louisiana fried chicken is typically made with a thick batter of flour and buttermilk, while Korean fried chicken has a thinner batter, and may be coated with a layer of sauce.

Globally, Popeyes has more than 3,600 restaurants in over 25 countries.

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