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South Korean Restaurant Operator Targets Vietnam Market Entry
A strategic partnership has been established between the South Korean-based QooQoo Franchise Group and Vincom Retail to integrate premium dining experiences into Vietnam's leading shopping destinations. The collaboration, formalized via a memorandum of understanding (MoU), outlines a development roadmap that extends through 2027, focusing on the introduction of large-scale restaurant formats within Vincom’s commercial properties.
The agreement was officially signed by Kim Young-gi, Chairman of QooQoo Franchise Group, and Pham Thi Thu Hien, Deputy CEO of Sales at Vincom Retail. This move represents a pivotal step in QooQoo’s international growth strategy while simultaneously diversifying the food and beverage (F&B) offerings across Vincom Retail’s extensive network of shopping centers.
Strategic Rollout in Hanoi and Ho Chi Minh City
The initial phase of the expansion will prioritize Vietnam's two largest urban hubs, Hanoi and Ho Chi Minh City. Industry reports indicate that the partners will spend 2026 and 2027 assessing further expansion opportunities across other regions. By leveraging Vincom Retail’s dominant footprint in the commercial real estate sector, QooQoo gains immediate access to a massive domestic market exceeding 100 million consumers.
For Vincom Retail, the partnership introduces proven South Korean dining models characterized by structured franchise operations and strong brand recognition. The goal is to curate dining environments that specifically attract Vietnamese families, the youth demographic, and international tourists seeking authentic Korean culinary experiences.
Strengthening Bilateral Commercial Ties
Beyond the immediate opening of restaurants, the MoU serves as a framework for deeper economic engagement between South Korea and Vietnam. Vincom Retail will provide the necessary local infrastructure and promotional support to help QooQoo establish its brand identity within the Vietnamese market.
In a reciprocal arrangement, QooQoo will act as an ambassador for Vincom Retail in South Korea, promoting the shopping centers to Korean investors and businesses. This mutual exchange is expected to catalyze further cooperation between Korean retail operators and Vietnamese commercial developers, potentially opening the door for more diverse international investments.
Evolution of the Shopping Mall Experience
The timing of this partnership aligns with a global shift in retail architecture, where shopping centers are evolving into "lifestyle hubs" that blend commerce, leisure, and entertainment. Modern consumers increasingly view dining as a primary destination rather than a secondary activity, which encourages longer dwell times within malls.
By integrating QooQoo’s diverse concepts—ranging from expansive buffets to specialized hot pot venues—Vincom Retail aims to increase the overall attractiveness of its properties. Vietnamese consumers can expect a variety of formats, including conveyor-belt sushi and premium buffet experiences, which are highly popular in the South Korean market.
QooQoo’s Operational Scale and Financial Performance
Founded in 2011, QooQoo Franchise Group has become a dominant force in South Korea's competitive food service industry. The company is best known for its flagship "QooQoo" brand, a sushi buffet that integrates a wide array of global dishes into a single dining experience. This success is built on a rigorous franchise model that emphasizes standardized food sourcing and operational consistency.
The scale of the organization is reflected in its current domestic footprint and financial trajectory:
| Metric | Detail |
|---|---|
| Total Outlets (South Korea) | Approximately 90 franchised restaurants |
| 2024 Total Revenue | KRW 397.6 billion (approx. VND 7 trillion) |
| Average Annual Growth (Since 2022) | Exceeding 30% |
| Primary Brands | QooQoo, Blue Rail, Always Shabu |
Diverse Culinary Portfolio and Supply Chain Integration
QooQoo does not rely solely on its buffet model. The group manages a diversified portfolio including Blue Rail, which focuses on the conveyor-belt sushi experience, and Always Shabu, dedicated to hot pot dining. This variety allows the group to target different price points and consumer preferences within the Vietnamese market.
A critical component of QooQoo's stability is its vertically integrated supply chain. The group manages its own ingredient procurement and distribution networks, ensuring that quality remains consistent across all franchised locations. This capability is essential for international expansion, where maintaining food safety and quality standards across borders is often the primary challenge for F&B operators.
The group's prestige in South Korea is further validated by its industry accolades. The QooQoo Premium Buffet has secured the top spot in the sushi buffet category at the Brand of the Year Awards for six consecutive years. Additionally, the company has been recognized by the Maeil Business Newspaper as one of the top 100 franchise brands and received several ministerial-level awards in 2024 and 2025.
Why This Matters: Impact on the Vietnamese Consumer
For the average traveler or resident in Vietnam, this partnership signals a shift toward more professionalized, high-volume dining options in urban centers. Rather than seeing a fragmented entry of small Korean eateries, the arrival of a structured franchise group like QooQoo means a more consistent experience across different cities.
From a logistical standpoint, the integration of these brands into Vincom malls reduces the friction for consumers who want "one-stop" entertainment and dining. For the local economy, the entry of a company with a KRW 397.6 billion revenue stream suggests a significant injection of foreign capital and the potential for job creation in the hospitality sector.
Furthermore, the focus on "large-format" dining indicates that these will not be small kiosks, but destination restaurants designed for groups. This will likely push other F&B operators in Vietnam to upgrade their service models to compete with the standardized, high-efficiency systems that South Korean franchises are known for.
Slug: qooqoo-vincom-retail-vietnam-expansion
