Starbucks-obsessed Korea ranks fourth in global store count

Starbucks logo shown at its branch in central Seoul [YONHAP]

Korea held the fourth-largest number of Starbucks stores around the globe as of last year, data showed Monday, driven by solid demand from local consumers.

Korea has 1,893 Starbucks stores as of 2023, up 116 from a year earlier, according to the data compiled by the U.S. coffee giant.

The figure falls just behind Japan's count at 1,901, despite the Asian neighbor having a population twice the size of Korea's.

Korea ranked fourth in terms of the number of stores, while the United States ranked top with 16,466 with China trailing behind with 6,975.

The Seattle-based coffee giant introduced its first store in Seoul in 1999 in partnership with Shinsegae Group, a Korean retail group.

Sales of SCK, the operator of Starbucks under Shinsegae, came to 758.6 billion won ($560 million) in the third quarter of 2023, with its operating profit reaching 49.8 billion won.

The number of staff employed by Starbucks in Korea is currently estimated at around 23,000.

The number of Starbucks stores here, meanwhile, falls behind those of local brands, which offer more budget options.

Ediya Coffee held more than 3,000 stores as of 2023, with Mega Coffee holding 2,785 stores.

Yonhap