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.
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.