Starbucks in Deal for S. Korean Coffee Stores

Starbucks Coffee Co. announced a deal with a leading South Korean department store chain to develop coffee stores. The first Starbucks in South Korea is scheduled to open during the first six months of 1998. Terms of the deal between Seattle-based Starbucks and Shinsegae Department Store Co. were not disclosed. Within Asia, Starbucks operates coffee stores in Japan and Singapore. A shop is set to open in the Philippines by the end of this year. A store is planned for Taiwan in 1998. K.J. Kwon, president and chief executive of Shinsegae, said in a statement that he is excited about bringing coffee to South Koreans “one cup at a time.”