HANOI, VIETNAM – Media OutReach Newswire - 22 October 2026 – Vincom Retail has signed a memorandum of understanding (MoU) for strategic cooperation with QooQoo Franchise Group, the company behind a network of nearly 90 premium buffet restaurants in South Korea. The agreement marks a step toward developing large-scale dining concepts across Vincom's retail properties through 2027.
Bringing International Dining Concepts to Vietnam
The signing ceremony was attended by Mr. Kim Young-gi, Chairman of QooQoo Franchise Group, and Ms. Pham Thi Thu Hien, Deputy CEO of Sales at Vincom Retail.
Under the agreement, the two companies will explore opportunities to introduce restaurant chains from the QooQoo portfolio to shopping malls and commercial districts managed by Vincom Retail. Hanoi and Ho Chi Minh City will be the primary focus markets during the 2026–2027 period. The partnership will give QooQoo an opportunity to expand into a market of more than 100 million people through Vietnam's largest retail property network. At the same time, it will allow Vincom Retail to diversify its tenant portfolio with established international dining concepts backed by proven operational capabilities.
Notably, the partnership will also extend to trade promotion between Vietnam and South Korea. Vincom Retail will support QooQoo's brand promotion efforts in Vietnam, while QooQoo will help introduce Vincom's shopping mall network to South Korean consumers and businesses. This two-way arrangement is expected to strengthen QooQoo's brand awareness in Vietnam while creating opportunities for Vincom Retail to build deeper connections with South Korean brands, business partners, and retail investors.
Speaking at the signing ceremony, Mr. Kim Young-gi, Chairman of QooQoo Franchise Group, described the partnership as an important milestone in the company's strategy to expand into Vietnam. With Vincom Retail's extensive shopping mall network and experience working with international brands, QooQoo hopes to bring its distinctive Korean dining concepts closer to Vietnamese consumers, particularly in Hanoi and Ho Chi Minh City. The group also aims to serve as a bridge in promoting Vincom's retail network in South Korea, helping facilitate trade cooperation and create opportunities for long-term growth for both companies.
The agreement comes as experiential dining continues to gain popularity, with consumers increasingly visiting shopping malls not only to shop but also to discover new experiences and destinations. With its distinctive dining concepts and proven track record in restaurant chain operations in South Korea, QooQoo is expected to bring a fresh dining experience to Vietnam and further enhance the appeal of Vincom's retail destinations.
More International Dining Experiences Coming to Vincom
Founded in 2011, QooQoo Franchise Group is a leading South Korean company specializing in food services and restaurant franchising. The group is widely known for its sushi buffet concept, which offers a diverse selection of dishes in a single dining venue.
QooQoo currently operates a network of approximately 90 franchised restaurants across South Korea. In 2024, system-wide revenue reached KRW 397.6 billion (approximately VND 7 trillion). The company has also recorded average annual revenue growth of more than 30% since 2022, reflecting the strength of its operations and continued network expansion.
Beyond its QooQoo sushi buffet brand, the group has developed a broader dining portfolio that includes Blue Rail, a conveyor-belt sushi chain, and Always Shabu, a restaurant chain specializing in hot pot. Its business activities also extend to food imports, distribution, and e-commerce. By developing an integrated supply chain and franchise support system, QooQoo has strengthened its ability to manage ingredient sourcing, maintain quality standards, and oversee restaurant operations.
In South Korea, QooQoo Premium Buffet has earned numerous industry accolades, including six consecutive wins at the Brand of the Year Awards in the sushi buffet category. The brand has also appeared multiple times on Maeil Business Newspaper's list of 100 leading franchise brands and received ministerial-level awards in 2024 and 2025.
For Vincom Retail, the addition of QooQoo would do more than bring another major international F&B brand into its portfolio. It would also create opportunities to introduce new restaurant concepts to the Vietnamese market. Leveraging its extensive retail property network, customer reach, and experience working with international brands, Vincom Retail supports its partners in identifying suitable locations, expanding their market presence, and building brand awareness.
In turn, QooQoo's experience in restaurant chain management, supply chain capabilities, and diverse brand portfolio are expected to further enrich the dining options available at Vincom shopping malls, making them more attractive to families and consumers eager to explore international cuisines.
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