Coffee chain Tim Hortons to open stores in South Korea

NEW YORK (Reuters) – North American coffee shop chain Tim Hortons will enter the retail market in South Korea later this year, its parent company Restaurant Brands International (NYSE:) said in a statement on Wednesday.

The company said the new stores in the Asian country, one of the fastest growing coffee markets in the world, would be developed under a master franchise agreement with BKR Co Ltd, a local operator in the quick service business.

Tim Hortons has around 5,600 stores in 15 countries, with a larger presence in Canada and the United States. It says it uses premium, 100% arabica coffee beans in its blends.

Restaurant Brands International, which also owns fast food chains Burger King and Popeyes, did not provide financial details of the deal or the number of stores it plans to open in South Korea.