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| Ediya Coffee CEO Moon Chang-ki speaks during a press conference held at Dream Factory in Pyeongtaek, Gyeonggi Province, Aug. 23. Courtesy of Ediya Coffee |
By Kim Jae-heun
Ediya Coffee, the coffee franchise with the largest number of stores in the country, will take its brand abroad again by opening a store in Guam this year, according to the company CEO.
"The domestic coffee market is already saturated. Rather than looking for opportunities in a red ocean, we are planning to find new growth engines overseas," Ediya Coffee CEO Moon Chang-ki said. "Our first store in Guam will serve as a stepping stone to enter the global market."
The coffee chain operates some 3,000 stores across the country, but it doesn't run any abroad. In 2005, Ediya Coffee opened its very first overseas store in Beijing, but the business lasted only three years there.
"We have been preparing to go abroad for quite some time after our business failed in China. We have now completed our plan to bring the taste of our coffee to global customers," Moon said.
Guam is an optimal choice for the company to restart its overseas business as it can receive feedback from Korean tourists visiting the island. Guam attracts 1.5 million tourists every year and 50 percent of them are said to be South Koreans.
After opening the first store in Guam, Ediya Coffee will expand its business in Southeast Asia and North America.
In addition, the company also invested 40 billion won ($29.89 million) to establish a production facility in Pyeongtaek, Gyeonggi Province, where it will produce instant coffee items for export.
Ediya Coffee already started selling its coffee mix products in the United States in April. The company sees potential with the items abroad for their convenience and the taste.
Its main rival Dongsuh Food, the largest instant coffee maker in Korea, cannot export its products abroad due to a business partnership signed with MonDelez. Ediya Coffee hopes to take advantage of this and pioneer new markets for instant coffee mix products.
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