Tully’s Coffee Intl & Dk Retail To Develop S Korean Marketplace

Trading Markets:

Tully’s Coffee International (“TCI”), a Singapore based company, has entered into a Master License Agreement (“MLA”) with DK Retail Co., Ltd.(“DK Retail”), a South Korean corporation, to develop Tully’s retail stores in South Korea. The agreement calls for DK Retail to open 100 Tully’s retail store locations in South Korea over the next five years.

The first store is scheduled to open in Seoul in March 2010.

“We have a high regard and respect for the Tully’s brand and product,” said Young Hun Cho, CEO of DK Retail. “We were overwhelmed by the atmosphere and passion that customers had for Tully’s upon our recent visit to the USA. We have a great appreciation and expectation for what we’re bringing to the gourmet coffee consumers in South Korea and are very excited to get the first store open.”

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