Dongwon Group has abandoned its bid to acquire McDonald s Korea, according to company officials, Thursday, citing an unresolvable disagreement with its U.S. headquarters on how to manage the fast food chain in Korea.
A 34 year-old office worker surnamed Jang says that hamburgers are his favorite food and expressed his frustration over how often fast food franchises have raised the prices of their menu items recently.
McDonald s Korea is up for sale, but some key pieces of real estate owned by the global fast-food chain in the country have been excluded from the deal.
McDonald s Korea held an in-house event to wish everyone a healthy and happy new year at its headquarters in Seoul, Wednesday. McDonald s Korea CEO Kim Ki-won vowed to continue her efforts to provide the best “Feel Good Moment” to customers along with her staff, partner firms and franchisees. Kim also had time to express her intentions for a strong start to 2023 with executives and staff members.
While major burger franchises in Korea, including Mom s Touch and Burger King Korea, are expected to be put up for sale soon, McDonald s Korea has become the first to officially initiate the selling process. According to the investment industry Tuesday, Mirae Asset Securities - the organizer of the sale of McDonald s Korea - has recently sent an investment teaser letter to potential buyers.