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Popeyes fried chicken chain is officially returning to South Korea next week after a 2-year hiatus. The American fast-food franchise is set to open new stores in the southern part of Seoul, and once in operation, business experts opined that competition among foreign restaurant brands could heat up.
According to The Korea Times, Silla deep sea fishery company inked a master franchise agreement with Restaurant Brands International (RBI), which owns the Popeyes fried chicken brand. The agreement was for bringing back the fast-food chain to the country.
The local franchisee pulled out its Popeyes business in December 2020 amid the sales decline brought about by the COVID-19 pandemic and other factors. Before the closure of stores, Popeyes Korea was operating almost 200 branches. When the pandemic hit, the competition in the dining market picked up, and the brand started to reduce the number of its store outlets until it finally decided to close all the locations.
Silla is confident that the re-launch of Popeyes in the country will be more successful this time. This is because the company can see high potential for the fried chicken brand to regain its popularity. Fried chicken is also a favorite snack, so the franchise could grow faster than anticipated.
"Chicken is one of the largest and fastest-growing categories in the Korean quick service restaurant sector. We will provide the taste of memories and Louisiana's unique menu to customers who miss Popeyes," an official at Silla company said in a statement.
But then again, some people in the fast-food sector said that Popeyes may have a hard time as many foreign brands have also opened their stores this year, such as Five Guys and Gordon Ramsay’s restaurant.
"It is not going to be easy for Popeyes to bring back the glory days it enjoyed in the early 2000s,” an official at a local food company explained. “There are too many global franchise restaurants that have opened their first stores in Seoul and some are already seeing losses."
Meanwhile, Korea Joongang Daily reported that the first Popeyes to open is located in Gangnam Station, Line 2. It will be launched on Dec. 16, and customers can enjoy the restaurant’s signature chicken sandwiches, biscuits and Cajun fries once again.
Photo by: Mike Mozart/Flickr (CC BY 2.0)
