CU convenience store is entering the U.S. market as the first in the industry.
BGF Retail, the operator of CU, announced on the 27th that it will establish the "BGF Retail Hawaii Corporation." BGF Retail has signed a master franchise agreement (MFC) with the local company "WKF Inc. (hereinafter WKF)," which is a newly established convenience store corporation specializing in CU Hawaii LLC.
The MFC grants local corporations the rights to use the brand, open stores, and operate the business while collecting royalties. Following the signing of the MFC, both companies plan to open the first CU store in Hawaii in October this year and expand to various commercial areas.
BGF Retail explained that there is significance in a Korean corporation retrogressing into the birthplace of the convenience store industry. The world's first convenience store was born in Dallas, Texas, in 1927. After 36 years since the first domestic convenience stores appeared in 1989, they are now entering the U.S. market.
Hawaii is a resort with mild and sunny weather year-round, attracting 10 million tourists annually. As of 2023, the top nationalities visiting Hawaii were the United States (7.5 million), Japan (570,000), Canada (410,000), and South Korea (160,000). The average daily spending by tourists is approximately 320,000 won, with dining expenses making up the largest share at about 40%.
CU plans to focus on localization. It will introduce advanced retail technologies such as optimal store layouts and unmanned checkout zones. The company will also offer a variety of K-foods including ready-to-eat meals and instant noodle cookers, which are essential for Korean tourism. Additionally, localization menus will be developed, and collaborative products like poke and loco moco, which are signature dishes of Hawaii, will be introduced.
Min Seung-bae, the representative of BGF Retail, said, "By signing this MFC in Hawaii, we have laid the foundation for Korean convenience stores to advance into the world's largest retail market and become a global standard." He added, "Based on the know-how accumulated over the past 30 years both domestically and internationally, we will demonstrate the strength of K-convenience stores on the overseas stage."
Robert Kurisu, the representative of CU Hawaii LLC, expressed his expectations, saying, "Hawaii has a high cost of living and restricted choices, leading to a very high demand for new retail models. We want to quickly introduce a new and attractive K-convenience store, CU, to Hawaii."