They have drawn those in their 20s and 30s who want to start their own business. Each franchise measures fewer than 30 square meters and costs only 50 million won to open, including rent. In particular, third-ranked Genesis BBQ took full advantage of the food delivery boom, opening more than 100 delivery-only outlets nationwide this year. ![]() In addition to developing various chicken recipes, they unveiled new side menus ranging from chicken burgers and twisted breadsticks to spicy rice cakes to boost sales. They should continue their steady growth for more than five years,” said Euromonitor analyst Kim Young-mi. “Fried chickens, a popular delivery food item, benefited substantially from the COVID-19 pandemic this year. Last year, Q Capital invested 120 billion won in BBQ to become its No. Two Seoul-based PE firms – Q Capital Partners and Corstone Asia – jointly acquired smaller chicken franchise Norang Tongdak for 70 billion won this year. Its shares were oversubscribed 1,318 times. The IPO of the franchise operator, with estimated sales of 430 billion won, pulled in $8.2 billion in deposits from retail investors for the subscription. Kyochon F&B became the country’s first listed chicken stock after it made a successful trading debut on the country’s main bourse last month. The Canadian pension OTPP agreed this month to invest 300 billion won ($276 million) in BHC Group, in a rare direct investment in South Korea's fried chicken market still fragmented by mom-and-pop outlets. They have also lured both foreign and retail investors, including the Ontario Teachers' Pension Plan (OTPP), as well as private equity firms. The country’s leading chicken brands, including Kyochon F&B, are tipped to flag their highest-ever sales this year. ![]() Once derided as a tomb for the self-employed due to cut-throat competition, fried chicken franchises in South Korea have emerged as a main beneficiary of a pandemic era, riding high on the food delivery boom.
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