Kamal Al Mana, one of the owners of Qatari conglomerate Al Mana Group, left, poses with McDonald's Korea Managing Director Kim Ki-won, center, and McDonald's Asia Business Lead Stijn Heytens after signing a deal to become McDonald's Korea's developmental licensee in this undated handout photo released on Monday. Courtesy of McDonalds Al Mana known for successful operation of McDonald's in Qatar By Nam Hyun-woo McDonald’s Corp. announced Monday that it has completed the sale of its business in Korea to Kamal Al Mana, one of the owners of Qatari conglomerate Al Mana Group.
According to the fast food franchise, Kamal Al Mana has been appointed as the developmental licensee and will own and operate the McDonald’s business in Korea, which includes 400 restaurants, more than 80 percent of which are company-owned. McDonald’s said Al Mana has a proven track record across different industries, including extensive experience in food and beverage, retail, real estate and luxury industries. He is currently the developmental licensee for McDonald’s in Qatar and Turkey, as well as a minority partner in the McDonald’s businesses in Singapore and Malaysia.
McDonald’s did not disclose further details, such as the value of the deal or the governance structure of McDonald’s Korea after the deal. McDonald’s Korea Managing Director, Kim Ki-won, will continue to lead the business in Korea. “We look forward to partnering with Kamal to take our brand to the next phase in Korea, whi.
