Tim Hortons brews up record profits for South Korea’s BKR

Tim Hortons’ Gwanghwamun K-Twin Tower outlet | Photo credit: BKR

South Korean franchise group BKR posted record operating profits last year, buoyed by the expansion of its licensed Tim Hortons business. 
 

BKR, which also operates over 500 licensed Burger King restaurants in South Korea, reported a 60% year-on-year increase in operating profit for the 12 months ended 31 December 2024 to reach ₩38.4bn ($26.1m). Group revenue grew 6.4% to ₩792.7bn ($540.1m). 

Seoul-based BKR attributed the strong results to streamlined operations and premium menu additions across both F&B brands. The franchise group introduced cold brew to Tim Hortons menus in April 2024, with new bakery items including Maple Cruller, Honey Cruller and Strawberry Dip donuts. 

BKR launched Tim Hortons in South Korea in December 2023 with an outlet at Sinnonhyeon Station in the Gangnam district of Seoul. The franchise group currently operates 17 licensed Tim Hortons stores across the East Asian country and plans to reach 150 outlets by 2029.   

In a statement, BKR said it was increasing investment in the Canadian coffee chain to ramp up outlet growth through both company-owned and franchised locations. Its first sub-franchise stores are set to open in April 2025. 

“We aim to make Tim Hortons a part of more Koreans’ daily lives, offering the comfort of its spaces along with fresh, delicious coffee and food,” a BKR spokesperson said. 

Founded in 1964, Tim Hortons is Canada’s largest branded coffee chain with over 3,880 stores. The Restaurant Brands International-backed business also operates more than 2,150 stores across 21 international markets, including China, Singapore, the Philippines, Thailand, Singapore and Malaysia.