CJ Group bids for McDonald’s Korea

Jul 4, 2016Updated Jul 4, 20161 min read

South Korean food-to-entertainment conglomerate CJ Group has submitted a letter of intent to buy fast-food chain McDonald’s Korea.

Details have yet to be decided, but the deal could be worth 300 billion won ($256.86 million) to 500 billion won, says the Korean Economic Daily newspaper, quoting investment banking sources.

McDonald’s Corp headquarters in the US announced in March it was reorganising its business in Asia by bringing in partners to own the restaurants within a franchise framework.

Describing its aim to be a global lifestyle company, CJ Group aims to provide healthy, happy and convenient lifestyles based on its four core businesses: food and food services, bio and pharmaceuticals, entertainment and media, and home shopping and logistics.

CJ’s business divisions include cinema chain CGV and bakery-cafe network Tous le Jours.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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