CJ Foodville, the restaurant and cafe operator under CJ Group, said it plans to enter the top 10 of global restaurant business by jumping into 15 overseas markets by 2020.
The company said on Tuesday it would open 3,600 restaurants in 15 nations by 2020 through merger & acquisition and launching new brands.
It also aims to increase shares of overseas sales by four times to the 44 percent level by expanding its stores centering on China, Southeast Asia and the U.S.
"We aim to stand shoulder to shoulder with global restaurant companies such as McDonald's, Yum and Starbucks centering on three bases including China, Southeast Asia and the U.S," said Kim Chan-ho, the company's global business chief.
"For the expansion of overseas stores, we will continue to launch new brands and acquire local companies," he added.
CJ Foodville has thus far launched four brands including Tous Les Jours, Bibigo, Twosome and Vips in overseas markets, starting from Tous Les Jours in the U.S. in 2004. Currently, the firm is operating a total of 230 stores in 10 nations including the U.S., China, the U.K., Japan, Vietnam, Singapore and Indonesia.
The company plans to ramp up its efforts to penetrate into overseas market, by using CJ Airtown in the Incheon International Airport as a bridge-head for the globalization of Korean food.
