In January, Starbucks announced plans to add at least 100 new outlets in Korea this year, after opening its 2,003rd store.
From January to June, Starbucks Korea recorded an operating profit of 75.4 billion won (US$54 million), a slight dip of 4% from 75.8 billion won last year. However, sales rose 4.2% to 1.56 trillion won from 1.49 trillion won.
The company has also ramped up marketing initiatives. In early 2023, it started replacing its name-calling pickup system with vibrating pagers at select stores, and since April 2024, Starbucks drinks have been available on food delivery app Baedal Minjok (Baemin).
Starbucks Korea is jointly owned by Shinsegae’s Emart, which holds a 67.5% stake, and the Government of Singapore Investment Corporation (GIC), which owns 32.5%.
