South Korean chicken burger chain Mom's Touch&Co. said Tuesday it inked a master franchise agreement with Mongolia's Foodville Farm LLC, in its first steps to enter the central Asian country.
Foodville Farm is an independent company established by the local franchise operator Monbakery LLC to expand the Mom's Touch brand in Mongolia. The company operates the South Korean coffee franchise Caffe Bene and bakery chain Tous les Jours in the Asian country.
The South Korean chicken burger franchise said it has decided to enter Mongolia due to the country's rapid economic growth, a relatively young population and a growing interest among Mongolians in Korean food, and products from K-pop and the broader Korean Wave.
Experts said the Korean Wave generated by K-pop and TV dramas could turn fans in foreign countries into active consumers of South Korean products.
Mom's Touch's first Mongolian restaurant is set to open in the first half of this year. The company plans to add more than five stores by the end of the year, it said.
Source: Yonhap News Agency