South Korea's leading fried chicken brand is targeting the Vietnamese market. BHC has officially announced its entry through a master franchise agreement, while earlier this year, domestic venture capital firm The Ventures acquired a stake in Chicken Plus to accelerate local expansion.
According to reports from Vietnamese media, including Tuoi Tre, BHC's parent company, Dining Brands Group, signed a master franchise agreement with Singapore-based Hao Open Food last month, marking its first step into the Vietnamese market. Hao Open Food operates food and beverage (F&B) and retail businesses across Southeast Asia and has established local distribution networks and logistics infrastructure in Vietnam. BHC is a top chicken chain in South Korea, operating over 2,300 stores worldwide, and aims to open 50 locations in major cities like Hanoi, Ho Chi Minh City, and Da Nang over the next decade.
"We plan to steadily expand our store system and build our brand by leveraging the local partner's distribution network and operational capabilities," said Song Ho-seop, CEO of Dining Brands Group. BHC will maintain its core menu items, Bburinkle and Machoking, while also introducing offerings tailored to local tastes. Machoking, launched in 2015, has sold 40 million units and generated approximately 800 billion won in revenue by 2025.
The growth potential of Vietnam's fried chicken market is evident in the numbers. According to Insight Asia's '2026 Vietnam Fast Food Market and Consumer Trends Report,' 82% of Vietnamese consumers chose chicken-related items during their most recent fast food visit, significantly outpacing burgers (11%) and pizza (7%). Major competitors in the Vietnamese fast food market include Lotteria (222 outlets), Jollibee (213), KFC (172), and McDonald's (37).
In terms of revenue structure, chicken has distinct advantages. Among consumers who chose chicken items, 84% opted for combo meals that include chicken, drinks, and sides. Although combo orders account for only 68% of total orders, they contribute to 72% of sales, indicating high revenue efficiency. Orders through delivery platforms also exceed 47%, making chicken brands the biggest beneficiaries. Taste (74%) is the primary factor in consumer decision-making, followed by convenience (48%) and price (43%).
Earlier in February, The Ventures became the largest shareholder of Chicken Plus Vietnam, marking its official entry into the local F&B market. Since opening its first store in 2016, Chicken Plus has grown to over 500 locations in South Korea and entered Vietnam in 2019, currently operating more than 100 stores nationwide.
The Ventures acquired its stake through an overseas investment fund, with a domestic chicken franchise company participating as a strategic investor. There will be no changes to the existing management or staff following the acquisition. The fund plans to increase the number of Chicken Plus locations in Vietnam to 270 within four years by utilizing the existing store network and infrastructure, while also establishing its own poultry farm to enhance cost control and quality management through in-house production, distribution, and sales.
Kim Dae-hyun, a partner in charge of Vietnam investments at The Ventures, stated, "The goal of this deal is to enhance asset value by combining the Korean restaurant chain with local infrastructure," adding, "The Vietnamese F&B market has significant growth potential."
Meanwhile, Lotteria, operated by Lotte GRS, has been present in Vietnam since 1998 and continues to grow steadily. It has expanded its presence by offering chicken meals paired with rice, reflecting local culinary preferences. Additionally, BBQ has been steadily increasing its stores since entering Vietnam in 2007, focusing on major cities like Hanoi and Da Nang. Other domestic chicken brands, such as Gubne Chicken and Bon Chicken, have also entered the Vietnamese market, driven by local consumer demand for K-chicken.
* This article has been translated by AI.
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