McDonald's Korea to Leave Its Jongno Era After Seven Years and Begin Its Taepyeong-ro Era; Food Companies Rush to Relocate Headquarters

[Financial News] McDonald's Korea will leave Seoul's Jongno District in October and begin its Taepyeong-ro era. As major food companies have recently been relocating their headquarters to enhance their brand standing and improve working conditions, the global franchise is also preparing for a new phase of growth by moving its base in the Korean market for the first time in seven years.
According to industry sources on the 22nd, McDonald's Korea will move its headquarters office from Jongno Tower in Jongno District, Seoul, to a large building in nearby Taepyeong-ro 2-ga, Jung-gu, in mid-October. The move comes about seven years after the company established its base at Jongno Tower in 2019.
The relocation focuses on expanding office space and improving operational efficiency. McDonald's Korea currently leases one floor at Jongno Tower, but it plans to lease two floors in the large building in Taepyeong-ro for use as its headquarters. A McDonald's Korea official said, "The headquarters relocation is aimed at improving operational efficiency, including the work environment for employees," adding, "As the office expands from one floor to two, we expect to develop various business models."
McDonald's Korea is accelerating the opening of new stores, with a goal of operating 500 locations by 2030. Its performance is also showing signs of improvement. Last year, McDonald's Korea recorded KRW 1.431 trillion in revenue and KRW 73.2 billion in operating profit. The figures represented increases of 14.5% and 523%, respectively, from the previous year. Revenue including franchise stores totaled KRW 1.564 trillion.
A wave of headquarters relocations has swept through the food industry this year. Samyang Foods, which is driving the success of K-ramen, ended its 28-year presence in Hawolgok-dong, Seongbuk-gu, Seoul, in January and moved to a new headquarters in Myeong-dong, Jung-gu. The move was intended to secure a location befitting the elevated status of K-food in global markets and strengthen communication and collaboration across the organization. The new headquarters has a total floor area of 20,867 square meters, with six basement levels and 15 above-ground floors. It brought together not only headquarters employees but also staff from key Samyang Roundsquare affiliates who had been working at separate locations, maximizing operational synergies.
Orion also left its headquarters in Munbae-dong, Yongsan District, Seoul, where it had been based for 70 years, and moved to Dogok-dong, Gangnam-gu, in June. The new building has six basement levels and 10 above-ground floors. Orion demolished a building previously used as a restaurant by one of its food-service brands and constructed a new headquarters on the site. Through the move, the company plans to establish a new turning point in its transformation into a global comprehensive food company. Starbucks Coffee Korea, or SCK COMPANY, also ushered in its Gangnam era last year by moving its headquarters from Toegyero in Jung-gu, Seoul, to Centerfield in Yeoksam-dong, Gangnam-gu.
Industry observers view the successive headquarters relocations by food companies as more than simple moves between physical locations; they regard them as strategic investments. A comfortable office environment and convenient transportation are key factors in attracting top talent.
An industry official said, "The scaling up of headquarters organizations is accelerating as K-food expands globally and companies diversify their businesses," adding, "The headquarters relocations by major companies will serve as critical turning points for redefining their brands and renewing their organizational cultures."
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