Starbucks Korea, the leading coffee chain by sales, has been reported to have the fourth-largest number of stores worldwide. According to the distribution industry on Feb. 12, data from Starbucks’ global website showed that, as of the end of last year, the number of Starbucks stores in South Korea increased by 116 from the previous year, reaching 1,893 outlets.
As of the end of last year, the United States (16,446 stores) and China (6,975 stores) accounted for six out of ten Starbucks locations worldwide, with a total of 38,587 stores. The number of stores in South Korea is the fourth highest globally, closely trailing Japan, which has 1,901 stores and a population 2.5 times that of South Korea. It is also reported that South Korea has more stores than Canada (1,465 stores) and the United Kingdom (1,297 stores), even though both operate over 1,000 outlets each.
Starbucks opened its first store in South Korea in 1999, three years after Japan, marking its 25th anniversary in the country this year.
SCK Company (Starbucks Korea) has reported that its cumulative sales exceeded 2 trillion won until the third quarter of last year. The sales for the last year (based on the cumulative total from the first to the third quarter) reached 2.1485 trillion won, an increase of 11.5% from the same period the previous year. The operating profit was reported at 106.7 billion won, up by 3.5%.
Since Starbucks entered the Korean market, the country has grown into the market with the highest per capita coffee consumption in Asia. According to market research firm Euromonitor, last year, the average South Korean consumed over 400 cups of coffee, the highest among major Asian countries. This amounts to more than one cup per day, double the global average of 152.7 cups.
Meanwhile, South Korea’s coffee imports have exceeded 1 billion dollars for two consecutive years. According to the Korea Customs Service’s trade statistics released on Feb. 11, last year’s coffee (green beans and roasted beans) import value was US$1.11 billion.