BKR, the operator of Burger King and Tim Hortons in Korea, posted record operating profits last year, buoyed by strong performances across its franchises, while working to scale up its coffee chain in the Korean market going forward.
The company said Monday that its operating profit hit an all-time high of 38.4 billion won ($26.1 million), up 60.4 percent from the previous year, while revenue rose 6.4 percent to 792.7 billion won.
BKR attributed the results to its strategy of improving the quality of its menu and streamlining operations across both brands, despite inflationary pressures and growing competition from local and global players.
“We achieved meaningful results thanks to the strong support of our employees and franchisees,” a company official said.
Burger King, the more established brand in BKR’s portfolio, remained a key growth driver, with relaunches of its flagship offerings and limited-edition premium items boosting year-round sales.
While Burger King continued to deliver steady growth — with plans to broaden its menu to appeal beyond its loyal base of Whopper fans — the company is also ramping up investment in localizing Tim Hortons and expanding its presence through both company-owned and franchised locations.
Tim Hortons, which entered Korea in December 2023 as the chain's seventh Asian market, now operates 16 company-run stores in Greater Seoul, which includes Incheon and Gyeonggi Province. Two more locations are slated to open in April.
Starting in April, BKR will open Tim Hortons up to franchising — a strategic pivot aimed at accelerating growth and expanding access to the Canadian coffee chain across Korea. The company said it has established a dedicated training program to assist franchisees with successful store launches.
“We aim to make Tim Hortons a part of more Koreans’ daily lives, offering the comfort of its spaces along with fresh, delicious coffee and food," the company official said, emphasizing that the company will stay focused on sustainable growth by balancing profitability with strong franchise partnerships.
minmin@heraldcorp.com
