The Korean buffet operator, which has around 90 franchised restaurants in its home market, is exploring opportunities to enter Vietnam through Vincom Retail’s shopping mall network.
South Korea’s QooQoo Franchise Group has signed a memorandum of understanding (MoU) with Vietnamese retail property operator Vincom Retail to explore expansion opportunities in Vietnam, with Hanoi and Ho Chi Minh City identified as priority markets for 2026–2027.
The agreement, signed in Hanoi on October 20, 2026, will explore the introduction of QooQoo’s restaurant concepts across Vincom Retail’s shopping malls and commercial developments. The companies have not yet announced confirmed opening dates, outlet numbers or the specific brands that will enter the Vietnamese market.
The signing ceremony was attended by Kim Young-gi, Chairman of QooQoo Franchise Group, and Pham Thi Thu Hien, Vincom Retail’s Deputy Chief Executive responsible for sales.
Under the proposed partnership, Vincom Retail will support the promotion of QooQoo’s brands in Vietnam, while QooQoo will help introduce Vincom’s shopping mall network to South Korean consumers and businesses.
Founded in 2011, QooQoo operates in South Korea’s restaurant and foodservice franchising sector. Its flagship concept, QooQoo, specialises in sushi buffets, while its wider portfolio includes Blue Rail, a conveyor-belt sushi concept, and Always Shabu, a hotpot restaurant brand.
The group has approximately 90 franchised restaurants in South Korea. According to information released alongside the partnership announcement, its system-wide revenue reached KRW 397.6 billion in 2024, equivalent to approximately VND 7 trillion. The company has also reported average annual revenue growth of more than 30% since 2022.
Beyond restaurant operations, QooQoo has interests in food imports, distribution and e-commerce, supporting its wider foodservice business. The company has also pursued international expansion, with its overseas presence including markets such as Australia and China.
The proposed Vietnam entry would give QooQoo access to Vincom Retail’s established shopping mall network, providing a potential route to reach urban consumers through high-traffic retail and leisure destinations.
For Vincom Retail, the agreement would add another international food and beverage operator to its portfolio as shopping centres increasingly compete through dining and entertainment offerings alongside traditional retail.
