TAIPEI (Taiwan News) — Taiwan Steel Group is looking to expand its business empire by acquiring domestic franchise rights to the U.S. fast food chain Burger King in Taiwan.

Taiwan Steel believes that adding Western-style fast food will complement its sports investments, such as ownership of TSG Tainan City Football Club, Tainan TSG Ghost Hawks basketball team,  TSG Hawks baseball team, and Wing Stars cheerleading team. 

Burger King currently operates 95 restaurants in Taiwan, which is considered by industry analysts to be too few. Taiwan Steel is planning to expand the number of locations to at least 130 in the short term, per UDN.

Burger King's current annual revenue from domestic operations is around NT$2.2 billion (US$68.8 million). Taiwan Steel is currently awaiting final approval of the sale by Burger King's U.S. headquarters.

Taiwan Steel divides its operations into four major categories: steel, network communications, chemicals and green energy, sports and health. There are 17 listed companies (domestic and international) associated with the Taiwan Steel Group.

In the steel sector, it is the world's most complete steel cable producer and the largest integrated electric furnace steelmaking group in Taiwan. In terms of network communications, it owns two major sub-groups, D-Link and EC Communication, which control six different publicly listed companies.

In terms of health and sports, Taiwan Steel’s investments include food, insurance, leisure and fitness, catering, performing arts, and sports teams.