FG Korea, the operator of the American handcrafted hamburger brand Five Guys in South Korea, will open its stores in Japan in the second half of next year.
Five Guys was introduced to South Korea by Kim Dong-sun, the third son of Hanwha Group Chairman Kim Seung-youn and head of strategic management at Hanwha Galleria.
FG Korea is a wholly-owned subsidiary of Hanwha Galleria.
FG Korea announced on Tuesday that it signed a memorandum of understanding (MOU) with Five Guys International last month, focusing on the brand's entry into the Japanese market.
The MOU enables FG Korea to lead the initiative by establishing a Japanese subsidiary.
The company plans to open more than 20 stores across Japan, including Tokyo, over the next seven years, starting in the second half of 2024.
Industry sources estimate the Japanese hamburger market to be 2.5 times the size of South Korea's, with an annual growth rate of 6.5% since 2015.
FG Korea sees significant growth potential in Japan, particularly as the premium burger market is still underdeveloped.
Write to Jae-Kwang Ahan at ahnjk@hankyung.com
The American burger chain Five Guys, which has attracted keen interest in South Korea for its service and prices even before its entry into the country, will launch in the nation next week. Founded in Virginia in 1986, the franchise has an estimated 1,800 stores in 23 countries like the U
Five Guys, one of the top three burger brands in the US, will open in June its first branch in South Korea in Seoul’s posh Gangnam District. Whether the franchise offers its trademark free peanut service in South Korea, however, remains uncertain.Hanwha Galleria on Monday said it will op