McDonald's Korea's losses narrow in 2020
Published: 20 May. 2021, 17:42
Updated: 20 May. 2021, 19:37
![Antoni Martinez, McDonald’s Korea managing director [MCDONALD’S KOREA]](https://koreajoongangdaily.joins.com/data/photo/2021/05/20/b481d7d4-551b-47b1-8d50-bbcd4b57bbd9.jpg)
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 [[email protected]]
with the Korea JoongAng Daily
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