SEJONG, Dec. 14 (Korea Bizwire) – The number of overseas restaurants, bakeries and cafeterias run by South Korean companies jumped 17.6 percent on-year in 2016 on their efforts to expand overseas business, government data showed Wednesday.
A total of 188 firms operated 5,476 stores in 50 countries as of end-2016, up from 4,656 overseas shops tallied a year ago, according to data by the Ministry of Agriculture, Food and Rural Affairs.
Exports of South Korean foodstuffs and ingredients rose 3.9 percent on-year to 34 billion won (US$29.1 million).
The number of overseas Korean-food restaurants soared 52.5 percent to 732 this year from the previous year’s 480, accounting for 13.4 percent of the total operations doing business outside Korea.
By country, there were 2,786 Korean-brand shops in China and 1,188 in the United States, while Vietnam and the Philippines had 306 and 253, respectively.