Global fast food franchise McDonald’s has announced that its Korean branch is looking for ‘strategic partners’ in management. (Image : Yonhap)
SEOUL, April 1 (Korea Bizwire) – Global fast food franchise McDonald’s has announced that its Korean branch is looking for ‘strategic partners’ in management.
The CEO of McDonald’s Global, Steve Esterbrook, revealed his intentions to combine the global brand of McDonald’s with insight and expertise in the Korean market. “Through the partnership, we’re hoping to make quicker decisions and boost growth. At the same time, we hope to provide a better dining experience to Korean consumers,” he said.
Cho Joo-yeon, the head of McDonalds Korea, explained that the company is looking for more aggressive strategies to fulfill the demand of the business as well as consumers, and create a competitive edge for the future.
However, McDonald’s has not yet revealed detailed information on what is meant by ‘strategic partner’.
Considering the example of overseas branches, experts predict that the ‘strategic partnership’ will result in a management shift. Currently, McDonald’s Korea is managed directly by headquarters. However, industry watchers suggest a master franchise or joint corporation might be considered in the future.
McDonald’s officials comment that they are looking into all possibilities for management. “Currently, 60 percent of the 119 countries McDonald’s is operating in are executing various forms of strategic management including master franchises or joint corporations.”
Corporate headquarters commented on their plans in the near future regarding the Korean market. “Korea is a territory where our stores are expanding quickly, recording noticeable growth. We plan to open 1,500 additional stores in China, Hong Kong and Korea during the next five years.”
By M.H.Lee (mlee@koreabizwire.com)
