Seoul trader: how Bunsik made the UK fall in love with Korean street food

You don’t need to be a Netflix executive to know that Korean culture is hot property right now. From the success of Squid Game to the rise of K-Pop, Brits are becoming more and more enamoured by the Land of the Morning Calm.

Earlier this year, Just Eat released research that described the UK as riding a ‘K-Wave’ boom for Korean food and products that’s apparently worth £3.5bn. Of this spending, food accounts for 58%, according to consultancy Development Economics. Full disclosure:  Restaurant ran a piece on the rise of Korean food in the UK a decade ago and looking back it was perhaps a tad premature, but now things are visibly changing.

Arguably the brand best placed to capitalise on the UK’s hunger for Korean food is QSR concept Bunsik. The Korean corn dog specialist, whose name refers to inexpensive, quick and convenient dishes, often associated with street food, launched in the UK in 2021 and became a viral hit on social media that led to queues down the street. It now operates seven sites across London and Manchester (see boxout below), with its opening on Wardour Street in London’s Chinatown drawing huge crowds last summer.

Bunsik is owned by Maguro Group, a London-based operator that also counts Korean BBQ restaurant Pochawa Grill in Chinatown, Bullgogi in Notting Hill and Gogi in Maida Vale among its portfolio. The group is led by director Jae Cho, who founded Maguro in 2009. Having established multiple concepts across London, Cho’s focus is now on growing Bunsik into not only a national chain, but an international one. As he explained when he sat down to talk to Restaurant, he believes there’s plenty of scope and opportunity for both.

How did you come up with the original idea for the Bunsik brand?

I had lots of different concepts, but I wanted one that was Korean-focused, which I could open all over Europe. In my head the idea was for something like a Korean McDonald’s. Originally it was going to be a burger and chicken concept. I was working on a menu that would be scalable, and also delivery friendly, but it needed more of a Korean identity. It was my wife that actually suggested putting the corn dogs on the menu. They were something we both ate from a young age in Korea, and it was what I was looking for to anchor the brand.

Are the corndogs the most popular item on the menu?

People have gone mad for them. We opened our first site on Charing Cross Road. It was quiet for the first two days and from the third day we had a queue form. It went all the way down the street and never let up. At one point we were selling a corndog every 20 seconds. It was insane. I never knew people in the UK would love corndogs so much.

How interlinked is Bunsik’s success with social media

In some ways it’s helped propel the brand and in others it’s complemented it. Our customer base is primarily teens and people in their early twenties, who are the most active on social media. When we launched in 2021 it was really good timing; everyone had just come out of lockdown, and social media played a huge part in the beginning of our success. TikTok was growing and we used TikTok Live to film the cooking of the corndogs and had staff talking to the customers as they were leaving comments. People would be telling us they were on their way and then be in the queue five or 10 minutes later. It was amazing.

When did you first notice the growing interest in Korean cuisine in the UK?

I opened my first Korean barbecue restaurant about 12 years ago. It had about 70 covers, and for the first five years it was a real struggle. Some days we’d only take around £300. But then we began to see the growth in popularity of Korean culture, not just the food, but also Korean music, films and TV. Squid Game has obviously been a huge thing. I’ve been in the Korean food business for a long time, but now definitely feels like its moment. It’s becoming more mainstream. In 2023 we opened a Bunsik in Westfield Stratford City. That’s a major shopping centre in the UK and we’re there next door to Subway, McDonald’s and Popeyes.

How much bigger can the space grow?

It’s just the beginning. We’re going to see more Korean operators coming to the UK, and not just in the QSR and casual space. We only have one Michelin-starred Korean restaurant in the UK, and there’s plenty of space for more.

What’s your expansion strategy for Bunsik?

We opened in Manchester in 2023, which was our first outside of London. I wanted to see if it worked outside of the capital, and it’s been a big success. I really underestimated the market outside of London. We do phenomenal numbers, and now we’re looking at growing to other cities including Birmingham, Bristol and Bath. As well as company-owned locations, we’re also starting to look for franchisees.

How big can Bunsik grow?

I have a specific number of how many sites I’m aiming for in the UK, which is 54. We got a company to do research for us. We gave them information about the business and our clientele, and they came up with a report of the best streets across the country where I could open. And 54 was down as the ideal number in the UK.

Do you want to grow outside the UK?

Yes. As well as finding a franchisee in the UK, I want to bring in a master franchisee to establish and grow the concept in France. If they succeed, then I think Spain and Germany would follow suit. We’re also exploring a move into omnichannel space. We want to put our sauces into supermarkets and maybe develop our corndogs for the frozen section so people can eat them at home.

What’s the biggest challenge to Bunsik’s growth?

Securing the right locations is a big one. Westfield saw the potential for the brand early on and I feel so fortunate for that, but in many of the central London locations we’re competing against much bigger brands. As the smaller player it is much more difficult to establish our place in the market. We’ve been lucky so far, but it is tough.