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Shake Shack has solidified its position in the South Korean burger market along with its rapid expansion, already opening 22 restaurants with its growing popularity among local hamburger lovers
The SPC Group initially had plans to open 25 Shake Shack restaurants in Korea by 2025
It began by opening two to three restaurants between 2016 and 2019, increasing to six by 2021. The American burger chain then opened two more locations in the first half of this year.
SPC Group Vice President Hur Hee-soo, the second son of the company's chairman, Hur Young-in, brought Shake Shack to Korea.
Furthermore, the vice president signed a master franchise agreement with Meyer to open Shake Shack locations in Singapore and Malaysia in 2019.
According to an SPC Group official, the company currently operates eight Shake Shack restaurants in Singapore and plans to open the first in Malaysia next year.
Following the successful debut of Shake Shack in Korea in 2016, many saw an opportunity in the premium burger market and began to enter.
According to a global market research firm, the burger market in Korea is expected to grow from 2.8 trillion won in 2018 to nearly 4 trillion won in 2021.
