McDonald’s Korea announced on April 17 that its sales reached nearly US$946.6 million last year, marking an all-time high for the fast-food chain in the country.

Including franchise sales, the company’s total revenue amounted to $939.3 billion, surpassing the $727.7 billion mark for the third consecutive year after 2021 and 2022.

The company’s directly operated store sales soared 12.4 per cent from the previous year to $815.9 billion, crossing the $727.7 billion threshold for the first time.

While McDonald’s Korea reported an operating loss of $14.7 million, this figure represented a 27 per cent decrease from the previous year. Its net loss for the period stood at $23.2 million, a 12 per cent reduction.

A McDonald’s Korea official stated, “We achieved double-digit sales growth by focusing on customer-centric activities and continuous investment in the domestic market.”

The official highlighted initiatives such as the ‘Taste of Korea’ project utilising local ingredients to foster regional cooperation, the introduction of 100 per cent recycled PET cups, the largest regular employment drive in the industry, and the expansion of digital convenience features.

With a goal of operating 500 restaurants by 2030, McDonald’s Korea opened eight new locations last year and renovated nine existing outlets to improve customer convenience.

The fast-food giant also raised menu prices twice, in February and November of 2023.

This story was originally published by M. H. Lee, via Korea Bizwire.