Starbucks planning to more than double its presence in South Korea by 2016, grow its stores there to 700 from current 340, CEO says

LOS ANGELES , May 2, 2011 () – Starbucks Corp. is planning to more than double its presence in South Korea by 2016, CEO Howard Schultz said on April 28, Reuters reported on the same day.

According to the news agency, the Seattle-based coffee chain, which opened its first store in South Korea in 1999, is targeting 700 shops in the country over the next five years; Starbucks now owns 340 stores there.

The primary source of this article is Reuters, London, England, on April 28, 2011.

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