Korean dessert cafe chain Sulbing to enter Philippine market this year

SEOUL, July 15 (Yonhap) -- Sulbing Co., a South Korean dessert cafe chain, said Tuesday it plans to enter the Philippine market this year as part of its overseas expansion strategy.

Sulbing has signed a master franchise (MF) agreement with Beyond Bingsu Cafe Inc., an affiliate of Philippines' Fredley Group of Companies, to open its first two outlets in Manila later this year, the company said in a press release.

A master franchise agreement allows the franchisee not only to open and operate outlets in a designated region but also to sub-franchise those rights to third parties.

Sulbing currently operates 587 domestic outlets and 12 overseas stores in the United States, Japan, Australia, Malaysia and Cambodia.

kyongae.choi@yna.co.kr
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