CJ pulls out of McDonald’s Korea race

Sep 26, 2016Updated May 28, 20251 min read

CJ Group says it has withdrawn from the bidding process for franchise rights for McDonald’s Korea.

The Korean multinational gave no reason for its loss of interest.

McDonald’s US is seeking buyers for 20 year franchise rights for its business in China, Hong Kong and Korea as it moves to a franchise partnership model outside the US.

CJ Group, whose interests include cinema chains in Asia and the Tous Les Jours bakery chain, said this week it had not entered the latest round of bidding for the business.

That leaves a consortium including Maeil Dairy Industry and another group with KG Group and NHN Entertainment Corp as the last two potential buyers on the shortlist.

McDonald’s hopes to earn about US$280 million from the Korean master franchise rights.

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Mei Ling Tan

Contributor · RetailNews.asia

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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