Customers line up outside a Five Guys store at Seoul Station. (FG Korea) Hanwha Galleria has extended exclusive talks with private equity firm H&Q Equity Partners over the sale of its stake in Five Guys Korea, as the two sides continue negotiations on a potential deal.The retail arm of Hanwha Group renewed a memorandum of understanding with H&Q after the exclusivity period under their previous agreement, signed Dec. 17, 2025, was set to expire.The extension allows both parties additional time to complete due diligence and negotiate final terms.“We plan to sign a definitive agreement after completing the remaining due diligence,” Hanwha Galleria said in a regulatory filing Thursday.The company added that key terms, including the transaction value, have yet to be finalized and remain subject to change. It said it will make another regulatory filing once specific terms are agreed or within the next six months.The sale comes as Hanwha Group seeks to streamline its portfolio and focus on core businesses.Five Guys entered the Korean market under the leadership of Kim Dong-seon, vice president of Hanwha Galleria and the youngest son of Hanwha Group Chairman Kim Seung-youn, and quickly drew attention as one of the country's most anticipated premium burger brands.However, profitability has come under pressure despite continued sales growth. FG Korea, the local operator of Five Guys, posted sales of 53.8 billion won ($35.4 million) last year, up 15.7 percent from a year earlier. Operating profit, however, fell 69.8 percent to 1 billion won amid rising costs and intensifying competition in the premium burger segment.