McDonald's Korea's losses narrow in 2020
McDonald’s Korea continued to bleed red ink last year.
The company reported a 66.12 billion won ($59 million) net loss for 2020, 18 percent lower than the previous year's 81.04 billion won.
Sales were up 9 percent to reach 791 billion won.
The Korean branch of the global fast food giant cited the impact of Covid-19, but said it expects the earnings to improve this year.
“As expectation towards overcoming Covid-19 grows and consumer sentiment continuously recovers, [the company] is expected to achieve better earnings this year compared to last year,” said a spokesperson for McDonald’s Korea.
The company last year introduced a Best Burger initiative, part of a global campaign intended to upgrade burger quality.
The number of burgers sold last year increased 18 percent.
BY JIN MIN-JI [firstname.lastname@example.org]