Texas Man Charged After Fatal Tesla Full Self-Driving Crash in Katy 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
China Services PMI Beats Forecasts as Strong Demand Supports June Growth 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
TetherMax Rebranding Highlights Official Exchange Partnerships as Foundation of Trust 
Asian Currencies Rise as Dollar Weakens; Yen Holds Steady Amid Japan Intervention Watch 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
Tim Hortons, the Canadian multinational coffeehouse and restaurant chain based in Toronto, is coming to South Korea. The company announced its plans to open its first store in the country, and the target date is before this year ends.
Tim Hortons, which is owned by Restaurant Brands International, said on Wednesday, May 10, that it hopes to inaugurate its first flagship restaurant in Korea in the second half of 2023. Its entrance to the local market is part of its strategy to expand its business globally.
The coffee and restaurant chain shared that it is setting up its business in the region through a master franchise agreement with BKR Co. Ltd., which is one of the leading quick service restaurant (QSR) firms in the country.
The Korea Economic Daily reported that BKR is also the local operator of RBI’s other restaurant brands, including Burger King. Tim Hortons currently has more than 5,600 outlets in 15 countries around the world. It is in operation for 60 years now and famous for its 100% premium Arabica coffee beans and tasty donut flavors.
The brand further said it has chosen South Korea as its newest location because it is one of the largest markets with the fastest-growing coffee industry. Before landing here, Tim Hortons already established its brand of coffee in the United States, the United Kingdom, the Middle East, the Philippines, Thailand, China, Spain, and India.
"We are excited to enter South Korea, one of the largest and fastest-growing coffee markets," Restaurant Brands International’s president, David Shear, said in a press release. "Based on Tim Hortons' signature menu and warm service culture, we will contribute to the Korean community."
He added, “We are proud to have such an experienced partner in BKR and we are excited about meeting our South Korean guests and introducing them to the premium quality coffee and delicious foods that Tims fans around the world know and love."
Photo by Surja Raj/Unsplash
