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Kyochon F&B Co., a South Korean fried-chicken restaurant chain, recently signed a memorandum of understanding with La Kaffa International Group to bring its brand to Taiwan.
Kyochon Chicken said that it has partnered with a Taiwanese food company to enter Taiwan. The contract was for a master franchise agreement that will introduce the Korean fried chicken chain to the Taiwanese market.
As per The Korea Times, La Kaffa is a leading food and beverage firm in its home ground. It maintains its rank in the top three and is one of the leaders in the restaurant industry there. It is also operating a global beverage business that has 2,500 stores worldwide.
La Kaffa International also runs dessert and tea cafes in Taiwan and overseas. With its reach and portfolio, Kyochon Chicken will surely get a big advantage from the partnership.
Kyochon Chicken itself is also a leading restaurant chain that has branches outside of South Korea as well. And with the growing international interest in K-food, its entrance in Taiwan is very timely. Kpop music, K-drama, and K-movies are currently very popular here, and this will likely contribute to attracting customers once the brand lands in the region.
Moreover, starting with its MOU with La Kaffa, Kyochon Chicken’s parent company is aiming to further expand its reach globally. There is also a plan to broaden its partnership with La Kaffa to promote and sell the brand’s new growth engines, including meal kits, K-sauce, and craft beer.
"Our MOU with La Kaffa is the first step to promoting Korean fried chicken in Taiwan, the country of gastronomy, Kyochon F&B’s chairman, Kwon Won Gang, said in a statement. “With our unique menu items and food strategies, we will do our best to focus on the Taiwanese market and further expand the business to the global stage."
Finally, The Korea Economic Daily reported that the signing of the MOU for Kyochon Chicken’s launch in Taiwan was held at the company’s headquarters in Gyeonggi-do, South Korea last week. It was attended by Kyochon F&B’s chairman Kwon Won Gang and La Kaffa Internationa’s chairman Henry Wang.
