The Seoul-based coffee chain is seeking to engage younger consumers across the Philippines with its value-focused hot and iced coffee menu
Paik's Coffee, Glorietta shopping centre, Makati City | Photo credit: Glorietta
South Korea’s Paik’s Coffee has opened its first store in the Philippines at the Glorietta shopping centre in Makati City.
The value-focused coffee chain, which has more than 1,000 outlets across South Korea, joins Starbucks, The Coffee Bean & Tea Leaf and Bo’s Coffee at the high-footfall location.
Paik’s Coffee was founded in 2006 by celebrity chef Jong Won Paik. Launching its first store in the Nonhyeon-Dong district of Seoul, the coffee chain was known as Wonjobucks Coffee until 2015 when it changed its name.
The company, which also opened a store in Singapore in 2016, is popular with students in its domestic market due to its perceived affordability and significant iced beverage menu.
The coffee chain’s pricing in the Philippines includes an espresso for Ph 100 ($1.80) and an americano for Ph 150 ($2.75). All coffee-based beverages are available hot or iced.
Market leader Starbucks, which operates over 420 outlets across the country, prices espresso and americano at Ph 125 ($2.30) and Ph 165 ($3.00) respectively.
World Coffee Portal research forecasts the Filipino branded coffee shop market, will exceed 2,060 outlets by 2025.