JV formed with Sangmidang affiliate Big Bite
Gangnam store opens Wednesday; 2 more planned this year
Menu, cooking and ordering style identical to US locations
Chipotle, the American fast-casual restaurant brand, is entering Asia for the first time — and it is starting in South Korea.
S&C Restaurant Holdings, the Korean operator of Chipotle, held a press briefing Tuesday at the Gangnam location in Seoul and announced the store will open Wednesday. It will be both Chipotle's first location in Korea and its first in Asia. The company plans to open two more stores in Korea before the end of the year, with a Singapore location targeted for the first half of next year.
Chipotle was founded in the United States in 1993 and has grown around the core philosophy of "Food with Integrity." The chain is known for letting customers choose their own ingredients and for preparing fresh produce daily in-store. It is a component of the S&P 500.
S&C is a joint venture established by Chipotle and Big Bite Company, an affiliate of Sangmidang Holdings. This marks the first time Chipotle has expanded internationally through a joint venture. Big Bite Company, which has operated global restaurant brands including Shake Shack and Jamba, secured the operating rights for Korea and Singapore.
The first Korean location, near Gangnam Station, seats 96 and replicates the menu, cooking methods and ordering format of US stores. Ingredients are prepped fresh on-site every morning, and no artificial flavors, colors or preservatives are used in any dish.
Ordering follows the same assembly-line format. Customers choose a base — burrito, burrito bowl, tacos, salad or quesadilla — then select their ingredients as they move along the counter. Protein options include chicken, steak, barbacoa (beef), carnitas (pork), sofritas (tofu) and a vegetarian option. Toppings such as rice, beans, salsa, cheese, sour cream and guacamole can be added.
Heo Hui-su, chief vision officer and president of Sangmidang Holdings, said bringing Chipotle to Korea goes beyond introducing a new brand. "It means proposing a new dining culture," she said. "We will faithfully deliver the quality standards and brand philosophy Chipotle has built, meet the expectations of Korean customers, and set a new benchmark in the dining market."
Chipotle CEO Scott Boatwright said Korea is an ideal starting point for the company's Asian expansion and has strong growth potential. "We will focus on Chipotle's differentiated value — offering food that customers can freely customize at a reasonable price — and expand across Asia," he said.
spa@heraldcorp.com
