McDonald's Korea's losses narrow in 2020

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McDonald's Korea's losses narrow in 2020

Antoni Martinez, McDonald’s Korea managing director [MCDONALD’S KOREA]

Antoni Martinez, McDonald’s Korea managing director [MCDONALD’S KOREA]

 
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 [jin.minji@joongang.co.kr]
 
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