Vincom Retail entered into an agreement with South Korea’s QooQoo Franchise Group on October 22 to introduce dining concepts to Vietnam. The rollout targets properties across Hanoi and Ho Chi Minh City through 2027.
Founded in 2011, QooQoo recorded KRW 397.6 billion, or approximately VND 7 trillion, in 2024 system-wide revenue across roughly 90 locations in its home market.
The partnership introduces QooQoo’s sushi buffet alongside conveyor-belt format Blue Rail and hot pot brand Always Shabu to Vincom Retail’s portfolio. QooQoo Chairman Kim Young-gi and Vincom Retail Deputy Chief Executive of Sales Pham Thi Thu Hien signed the agreement in Hanoi. Under the terms, Vincom Retail will support local marketing, while QooQoo introduces the landlord’s properties to Korean retail groups and investors.
Vietnamese shopping center owners face structural shifts in floor space allocation as standard apparel retail yields ground to large-format dining. Landlords in Southeast Asia increasingly rely on high-capacity food operators to draw steady footfall during weekday evenings and weekends. Dedicating several thousand square meters to a multi-brand Korean buffet group locks in regular traffic, but it also ties rental yields to high customer volume and tight inventory turnover.
For mall operators, high-turnover buffets reduce vacancy risk in multi-level developments where upper floors struggle to draw fashion shoppers. The risk shifts directly to operational execution. All-you-can-eat seafood concepts require constant cold-chain deliveries and strict waste control to maintain margins, particularly in tropical climates where spoilage costs mount quickly.
Founded in 2011, QooQoo built its domestic Korean business around an integrated supply chain that handles food imports, logistics and digital commerce.
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