five

Reporter Yoo Ye-rim, Money Today | 2023.07.01 14:10

(Seoul = News 1) Reporter Yoo Seung-gwan = Customers are waiting in line in front of the Five Guys Gangnam store in Gangnam-gu, Seoul on the 26th, the opening day of the first American hamburger brand Five Guys. Five Guys, which started in Virginia, USA in 1986, has been operating over 1,800 stores in 23 countries since it started overseas expansion in 2002, and Korea is the sixth in Asia. 2023.6.26/News1 Copyright (C) News1. All rights reserved. Unauthorized copying and redistribution prohibited. It is challenging the domestic restaurant market of famous foreign restaurant franchises. There are various types of overseas franchises that have nested in Korea, such as chicken, handmade burgers, and coffee shops, but hamburger brands are actively entering the market recently. Hanwha Galleria opened its first ‘Five Guys’ store in Seocho-gu, Seoul on the 26th of last month and succeeded in the early box office. Five Guys is one of the top three burger brands in the US, along with Shake Shack and In-N-Out. From the night before the store opened, a line of people waiting and the so-called ‘open run’ continued, and on the carrot market, a used trading platform, a post was posted saying that two cheeseburgers and large fries were sold for 100,000 won.

The American handmade burger brand ‘Super Duper’ operated by the bhc group is also gaining popularity by opening new stores in Gangnam last year, Hongdae and COEX Starfield this year. SPC Group’s ‘Shake Shack’, which opened in Korea in 2016, and ‘Gordon Ramsay Burger’, a burger restaurant by British star chef Gordon Ramsay, which opened in Jamsil last year, also joined the competition.

In addition to burger brands, chicken and coffee shop franchises have made their mark in Korea. Starting with the Gangnam store in December last year, two years after it withdrew from Korea, Popeyes is increasing the number of stores. It opened a Gongneung Station branch in Nowon-gu, Seoul this month and is operating eight stores in about half a year after re-entering the country. American chicken brand ‘Wingstop’ also opened its first store in Gangnam-gu early this year, and is planning to open its third and fourth stores.

‘Pet’s Coffee’, known as one of the top 3 coffee shops in the US, and ‘Tim Horton’, a Canadian franchise, are also expected to enter the domestic market, raising consumers’ expectations and boosting the restaurant market. An official from the food service industry said, “It is true that competitions arise when foreign food service brands enter Korea, but interest in one category such as homemade burgers or foreign desserts increases.” “he said.

(Seoul = News 1) Reporter Lee Dong-hae = On the morning of the 29th, customers are waiting in line at the 10th store of Shake Shack, an American premium handmade burger located in the Gran Seoul building in Jongno-gu, Seoul. The 10th store in Korea, ‘Shake Shack Jonggak Store’, expresses representative places of Jongno, such as Gwanghwamun, Gyeongbokgung Palace, the statue of King Sejong, and Sungnyemun Gate, with art graphics created by combining Shake Shack icons. 2019.8.29/News 1 However, while consumers welcome overseas foods because they can access them in Korea, they express concern about some expensive products that target premium products. Although it may attract attention in the early stages of opening, it is pointed out that a differentiated strategy is needed to successfully settle down. The basic price of a single hamburger at Five Guys is 13,400 won. The most expensive of the burgers, the Bacon Cheeseburger costs 17,400 won, and if you add a drink or side menu, the price can exceed 20,000 won or 30,000 won. The Gordon Ramsay Burger was also controversial as the cheapest burger was 27,000 won. Regarding this, an industry insider said, “Handmade burgers are inevitably more expensive than regular fast food hamburgers.” We need to make it possible to run long,” he said.

[저작권자 @머니투데이, 무단전재 및 재배포 금지]

2023-07-01 05:10:00
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