Banseog note · Oct 25, 2026
BGF Retail — Growing through store quality and overseas rather than store count
- Where it stands now
- Quality and overseas expansion — opening fewer stores and raising profit at home while seeking growth overseas and in logistics
In Q2 2026, consolidated revenue was KRW 2.4268 trillion (+6%) and operating profit KRW 84.9 billion (+22.3%). Same-store growth was 4.2%, a turnaround from a year earlier (−2.1%).
Net domestic store additions fell from 975 in 2023 to 696 in 2024 and 253 in 2025. This reflects a shift in operating approach toward high-quality stores rather than aggressive openings.
As of September 2026, CU had 915 overseas stores (653 in Mongolia, 185 in Malaysia, 72 in Kazakhstan and 5 in Hawaii).
- Three decisions within a year
- Busan global logistics center: completed in September 2026 near Busan New Port, with a gross floor area of 128,072 m² and investment of KRW 260 billion. The ambient center will be in full operation by year-end and will handle supply to overseas stores and private-brand exports to some 20 countries.
- Overseas store targets: it said it will pass 1,000 global stores by the first half of 2027 and, by 2028, expand to five or more countries and up to 1,200 overseas stores.
- Foreign tourist trade areas: in February 2026 it opened a store specializing in K-desserts in Seongsu-dong, and introduced reports analyzing foreign customer sales by store.
- Three people it will look for
- Overseas business development and master franchise managers — new-country negotiations and local partner management are needed for the goal of entering five or more countries by 2028
- Global SCM and export logistics operators — with the Busan logistics center in full operation, people are needed to run supply to overseas stores and private-brand export volumes
- Private-brand and specialty product MDs — high-margin products such as desserts and drinks, and demand from foreign tourists, are driving profit improvement
- For HR
- People with overseas convenience store operations and export logistics experience are sought both by other convenience store companies and by food manufacturers going overseas. The window between the logistics center start-up and the 1,000-store target, from now until the first half of 2027, is the time to hire.
- For job seekers
- Experience running an overseas master franchise or starting up export cold-chain and logistics centers is worth the most at this company right now.
A reading written from public sources. Sources: Bloter 2026-08-18 (Q2 results and net store additions), Newstop Korea 2026-10-21 (overseas stores and Busan logistics center), The Korea Economic Daily 2026-09-16 (logistics center completion), Korea Financial Newspaper 2026-08-06 (overseas targets and specialty stores). Team size is from Korea's pension register.