BUSINESS

S. Korean fast-food chain Lotteria opens in Mongolia

By Yonhap
  • Published : Jun 25, 2018 - 11:44
  • Updated : Jun 25, 2018 - 11:44
South Korean retail giant Lotte's fast-food chain, Lotteria, opened its first Mongolian store in the country's capital city of Ulaanbaatar last week, its operator said Monday, as the company moves to expand its presence in the global market.

The launch of the new store came after Lotte GRS Co. signed a franchise agreement with cinema equipment supplier Eugenetek Mongolia LLC in September last year.

Lotte GRS said it plans to operate up to 10 Lotteria outlets in Mongolia by 2022.

The operator of South Korean retail giant Lotte's fast-food chain, Lotteria, shows its first Mongolian store in Ulaanbaatar on June 23, 2018. (Lotte GRS Co.)

Founded in 1979, the food affiliate of South Korea's fifth-largest conglomerate has thousands of stores under six brands nationwide, including the hamburger chain Lotteria and the cafe chain Angel-in-us Coffee.

The latest inroads into Mongolia raised the number of overseas countries with the firm's presence to eight, including Vietnam, China and Indonesia. (Yonhap)

LEADERS CLUB