Chipotle Mexican Grill is expanding into Asia, with plans to open restaurants in South Korea and Singapore next year. The move is part of the company’s strategy to grow its global footprint amid slowing consumer spending in the U.S. market. Chipotle will enter Asia through a joint venture with South Korea-based food company, SPC Group.

CEO Scott Boatwright sees the expansion into Asia as a significant growth opportunity for Chipotle, citing the evolving dining-out business and consumers’ preferences for variety and convenience. This move follows Chipotle’s recent announcement of plans to enter the Mexican market and expand into the Middle East through a deal with Alshaya Group.

Despite its international growth efforts, Chipotle faced challenges in the U.S. market, with lower-than-expected sales growth and quarterly sales misses. The company attributed these challenges to a decline in restaurant visits in an uncertain economy, compounded by the impact of President Donald Trump’s trade tariffs on supply-chain costs. Chipotle currently operates in Canada, the UK, France, and Germany.

Chipotle operates over 3,800 restaurants globally and plans to open between 315 and 345 new outlets this year. The company aims to have 7,000 locations in the U.S. and Canada in the long term. This growth strategy underscores Chipotle’s commitment to expanding its presence internationally while navigating challenges in its domestic market.

Read more at Yahoo Finance: Chipotle to enter Asia in 2026 with burrito chains in South Korea, Singapore