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Biz News Korea(Eng)

Shake Shack to open Friday in Gangnam

Collected: 2016.07.20

Distributed: 2016.07.21

Source: Go Direct

American premium burger chain Shake Shack is set to make its debut in Korea on Friday in Gangnam, one of Seoul’s most bustling and crowded districts.

The New York City-based Shake Shack, founded in 2002 by U.S. restaurant magnate and CEO of Union Square Hospitality Group, is operating in 13 countries. It is very popular. Customers usually wait in a long line to order their food.

[Hur Hee-soo]

Korea is the second country in Asia to house the burger brand after Japan. SPC Co., Korea’s leading food and bakery company, struck an exclusive contract to operate the store after beating 30 or more local rivals.

“We will introduce a new dining concept called ‘fast casual’ in Korea with Shake Shack, and achieve 200 billion won ($173 million) in sales by 2025,” said Hur Hee-soo, SPC Group’s executive managing director during a press conference on Tuesday.

The signature menu Shack Burger is priced at 6,900 won in Korea, while it goes for $5.29 in the U.S. When adding 8.8 percent of taxes, the price is comparable to that in New York and cheaper than that in Japan of 734 yen (7,865 won).

Shake Shack Gangnam will offer four exclusive menu items for local customers.

By Lee Sae-bom

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