South Korea’s QooQoo is Eyeing Major Vietnam Expansion as Vincom Retail Unlocks New Dining Opportunities

Vincom Retail has entered into a strategic partnership with QooQoo Franchise Group, a South Korean restaurant operator with nearly 90 premium buffet outlets across the country. Formalised through a memorandum of understanding (MoU), the collaboration aims to introduce and expand large-format dining experiences within Vincom’s shopping centres, with development plans extending through 2027.

South Korea’s QooQoo Franchise Group Plans Expansion into Vietnam Through Strategic Partnership with Vincom Retail

Korean Restaurant Brands Set to Enter Vietnam’s Growing Retail Market

South Korea’s QooQoo Franchise Group has entered into a strategic partnership with Vincom Retail to explore opportunities for introducing its restaurant brands to Vietnam. The agreement was formalised at a signing ceremony attended by Kim Young-gi, Chairman of QooQoo Franchise Group, and Pham Thi Thu Hien, Deputy CEO of Sales at Vincom Retail. The collaboration marks an important step in QooQoo’s international expansion plans and supports Vincom Retail’s efforts to strengthen the variety of food and beverage experiences available across its shopping centres.

The partnership will initially concentrate on Hanoi and Ho Chi Minh City, with potential expansion opportunities being assessed throughout 2026 and 2027. Through Vincom Retail’s extensive network of shopping malls and commercial properties, QooQoo will gain access to Vietnam’s consumer market of more than 100 million people. Meanwhile, Vincom Retail could benefit from introducing established South Korean restaurant concepts that offer distinctive menus, structured franchise operations and recognised brand identities. Both companies aim to identify suitable commercial locations and develop dining experiences that appeal to Vietnamese families, young consumers and visitors interested in international cuisine.

The agreement also creates a platform for stronger commercial engagement between Vietnam and South Korea. Vincom Retail will assist QooQoo in establishing its presence and promoting its restaurant brands within Vietnam. In return, QooQoo will help raise awareness of Vincom Retail’s shopping destinations among South Korean businesses and consumers. This reciprocal arrangement could encourage greater cooperation with Korean restaurant operators, retail businesses and potential investors, while opening additional opportunities for commercial partnerships between the two countries.

During the signing ceremony, Kim Young-gi highlighted the importance of working with an established Vietnamese retail operator as QooQoo prepares to enter the market. Vincom Retail’s experience in managing major shopping destinations and collaborating with overseas brands is expected to support the group’s expansion ambitions. QooQoo also intends to promote Vincom’s retail network in South Korea, helping strengthen business relationships and supporting opportunities for sustained cooperation. The partnership reflects a shared interest in developing new commercial opportunities rather than focusing solely on restaurant openings.

The collaboration comes as shopping centres increasingly combine retail services with entertainment, leisure and dining experiences. Restaurants have become an important part of the shopping mall environment, encouraging visitors to spend more time at commercial destinations. By exploring the introduction of QooQoo’s Korean restaurant concepts, Vincom Retail aims to offer customers additional choices while improving the overall attractiveness of its properties. The proposed expansion could also provide Vietnamese consumers with greater access to Korean dining formats, including buffet restaurants, conveyor-belt sushi and hot pot experiences.

QooQoo’s Established Restaurant Network Could Bring New Dining Choices to Vincom Shopping Malls

Established in 2011, QooQoo Franchise Group has developed into a prominent participant in South Korea’s restaurant franchising and food service industry. Its best-known concept is QooQoo, a sushi buffet restaurant brand offering customers a broad assortment of dishes within a single dining setting. The company has expanded its operations through a franchise-based business model, supported by restaurant management expertise, food sourcing arrangements and operational systems designed to maintain consistency across its locations.

The group currently has approximately 90 franchised restaurants operating throughout South Korea. In 2024, its network generated total revenue of KRW 397.6 billion, equivalent to roughly VND 7 trillion. Since 2022, QooQoo has reported average annual revenue growth exceeding 30%, demonstrating the scale of its business development and the expansion of its restaurant operations. These figures underline the company’s established position in its domestic market as it considers opportunities beyond South Korea.

QooQoo’s restaurant portfolio extends beyond its flagship sushi buffet offering. The group also operates Blue Rail, which specialises in conveyor-belt sushi dining, and Always Shabu, a restaurant concept centred on hot pot meals. These brands provide different dining formats that could appeal to a range of consumer preferences in Vietnam. Alongside its restaurant operations, the company participates in food importing, distribution and online commerce, allowing it to coordinate several important parts of its food service business.

An integrated supply chain forms another important part of QooQoo’s operating model. By managing ingredient procurement, distribution arrangements and franchise support, the group has developed systems intended to maintain food quality and operational standards across its restaurant network. Such capabilities could prove valuable when evaluating potential international locations, particularly where consistent sourcing and restaurant management are essential to maintaining the customer experience.

The group has also received recognition within South Korea’s restaurant industry. QooQoo Premium Buffet has won the sushi buffet category at the Brand of the Year Awards for six consecutive years. The brand has also featured on Maeil Business Newspaper’s list of 100 leading franchise brands on several occasions. Additional recognition includes ministerial-level awards received in 2024 and 2025, reflecting its standing within the country’s food service and franchising sectors.

For Vincom Retail, the proposed collaboration offers an opportunity to expand the range of international restaurant operators represented within its commercial properties. Rather than simply adding another food and beverage tenant, the company could introduce several dining concepts from a single established franchise group. This approach would allow shopping centres to offer customers different types of Korean-inspired dining experiences, while potentially strengthening their appeal as destinations for shopping, meals and leisure activities.

Vincom Retail’s property network, customer base and experience in working with international businesses are expected to play an important role in identifying suitable locations for the proposed restaurants. Its understanding of local consumer preferences and commercial property operations could help QooQoo assess potential sites and develop brand recognition in Vietnam. At the same time, QooQoo’s restaurant management expertise, supply chain infrastructure and established dining concepts could support Vincom Retail’s wider efforts to diversify its food and beverage offering.

The partnership therefore represents a potential opportunity for both businesses. QooQoo could establish a stronger presence in Southeast Asia through Vietnam’s retail market, while Vincom Retail could broaden its selection of international dining experiences and develop closer commercial relationships with South Korean businesses. Although the agreement establishes a framework for exploring expansion, individual restaurant openings and their locations will depend on subsequent business decisions. If the proposed plans progress, Vietnamese consumers could gain access to additional Korean dining brands across major urban shopping destinations during the coming years.