Korean franchises eye Japan, riding high on K-food trend

 Korean food and beverage companies are entering the Japanese market to benefit ,,,

 on the expanding popularity of Korean cuisine in the neighboring country and a saturated domestic market.  

 Japan has 19 Korean cuisine franchises with 133 locations in 2023. After the US, Vietnam,,,

 and China, Japan was the fourth most preferred destination for Korean franchises, according to the state-run Korea Agro-Fisheries & Food Trade Corp.  

 Mom's Touch and Kkanbu Chicken, Korean burger and Korean-style fried chicken chains, joined the Japanese market this year.  

 In May, Hollys Coffee, a leading specialty coffee business, will launch its first Japanese location.  

 One reason for international expansion is a saturated domestic market.  

 The growth rate peaked in 2021 with 5,661 new openings, rising 34.5 percent, then declined to 11.4 percent in 2022 and 8.1 percent in 2023.  

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