Franchisees Archives | Be Korea-savvy

Franchisees on Average Close Biz in Just Over 4 Years: Data

SEOUL, Dec. 24 (Korea Bizwire) — Franchisees on average shuttered their businesses in just over four years, government data showed Monday, in the latest sign of troubles facing small entrepreneurs. The 2015 data compiled by Statistics Korea showed that franchisees ran their stores for 52 months before closing them. By sector, franchisees of pharmaceutical businesses [...]

Seoul Joins Hands with Franchises to Find Quick and Simple Solutions to Disputes

SEOUL, Nov. 28 (Korea Bizwire) – Seoul announced on November 27 that it had teamed up with franchisee associations to draw up a blueprint for a nine-member arbitration tribunal whose primary task will be to mediate disputes between franchisees and franchisors. Abuses of power by franchisors – “gapjil” in Korean – are a common complaint [...]