The Canadian coffee chain will launch in the highly competitive South Korean branded coffee shop market this year in partnership with existing RBI Burger King franchisee, BKR
Tim Hortons operates more than 5,600 stores in 15 markets around the world | Photo credit: Restaurant Brands International
Restaurant Brands International (RBI) has announced Tim Hortons will enter the South Korean market in 2023.
In a press release, RBI said the Canadian coffee chain would partner with existing master franchisor for Burger King in South Korea, BKR Co. Ltd, which currently operates more than 480 fast food chain’s outlets in the country.
South Korea will be the latest of several international market debuts for Tim Hortons, which operates more than 5,600 stores in 15 countries, including nearly 3,900 in Canada.
Tim Hortons added more than 300 stores around the world during the first quarter of 2023
, but continues to close stores in its native market, with RBI focusing on overseas growth for the coffee chain – notably in China, where it now has more than 500 stores
In August 2022, Tim Hortons made its India debut
with two stores in New Delhi before completing its market entry in Kuwait
the following month.
In February 2023, the Canadian coffee chain opened its first store in Pakistan
with a drive-thru-equipped outlet in Lahore in partnership with Karachi-based UK franchisee Gerry’s Group.
The company also plans to double its UK store portfolio
to more than 100 by the end of 2023 and will open 50 new stores in Mexico
South Korea is Southeast Asia’s most developed and densely populated branded coffee shop market with over 25,000 stores – nearly 500 per million inhabitants.
Tim Hortons will face stiff competition from branded café market leader Ediya Coffee
, which operates around 3,500 stores in South Korea.
Fellow domestic coffee chains A Twosome Place
and Mega Coffee operate 1,300 and 1,200 stores respectively while US coffee giant Starbucks is also well established, with more than 1,700 outlets across the country.
Nevertheless, South Korea’s branded coffee shop market continues to add outlets
and attract international coffee chains, such as Japan’s %Arabica
and US-based Reborn Coffee
RBI, which holds the franchise rights for the Burger King, Popeyes and Firehouse Subs fast-food restaurant chains around the world posted full-year 2022 revenues
of $7.16bn for Tim Hortons.