South Korean convenience store chain C.U. will open shops in Iran.
 
BGF Retail, the operator of C.U., said on Friday that it signed a franchise contract with Iran’s Entekhab Investment Development Group.
 
The company plans to use Iran as a base for its advance into other developing markets in the Middle East and Southeast Asia.
 
BGF Retail is the first South Korean convenience store chain to open and run outlets in a foreign country.
 
An official from the Iranian company expressed expectations that the number of convenience stores will likely increase to roughly one-thousand by 2022, as there are no such retailers in Iran currently and Iranian people have a positive impression of South Korean businesses due to the Korean pop culture boom.