Popeyes to to Launch in South Korea

The Popeyes® brand and a wholly-owned subsidiary of Silla Co., Ltd. ("Silla Group") are excited to announce they have entered into an exclusive Master Franchise and Development Agreement to develop and open hundreds of Popeyes® restaurants across South Korea in the coming years.

"We are thrilled to launch Popeyes® with the Silla Group subsidiary. We have strong confidence in the group and are pleased to announce exciting plans to bring our iconic Louisiana-style chicken to one of the largest chicken QSR markets in the world" said David Shear, President RBI International, parent company of Popeyes®. "Our entry illustrates our commitment to serving more guests around the world and the execution of our growth plans for the Asia Pacific region".

Founded in New Orleans in 1972, Popeyes® has more than 45 years of history and culinary tradition. Popeyes® distinguishes itself with a unique New Orleans style menu featuring the iconic chicken sandwich, spicy chicken, chicken tenders, fried shrimp, and other regional items. Popeyes® uses proprietary seasonings and techniques developed by an in-house culinary team of chefs that makes its fried chicken a point of reference for Michelin Chefs and celebrities.

The brand's passion for its Louisiana heritage and flavorful authentic food has allowed Popeyes® to become one of the world's largest chicken quick-service restaurants with over 3,600 restaurants in over 25 countries around the world.

Ms. MoonKyung Lee, Senior Managing Director of Silla Group's F&B Division said "Chicken is one of the largest and fastest-growing categories in the South Korean QSR segment. We are proud to bring the famous Popeyes® brand to South Korea and we believe that our guests will love Popeyes® iconic Chicken Sandwich. Popeyes® is an exciting addition to the Silla Group's F&B portfolio and is expected to become one of the key drivers of growth for us. It will also contribute significantly to the economy by creating hundreds of new jobs over the coming years. We couldn't be more excited."

Popeyes® is committed to bringing its digital innovation to South Korea with an emphasis on a seamless guest experience. Popeyes® restaurants will feature digital ordering screens, mobile ordering, and delivery, to serve guests in the iconic hospitable way that is characteristic of the brand.

Today's announcement reflects the global appeal of Popeyes® and contributes to the ambitious brand expansion plan globally. In 2021, Popeyes® announced agreements to enter the United Kingdom, Romania, France and India, and to expand in Mexico and Saudi Arabia. Other international expansions over the past years include Spain, Switzerland, China, Brazil, Sri Lanka, and the Philippines. The Silla Group subsidiary's first Popeyes restaurant in South Korea is scheduled to open in 2022.