SEOUL, March 28 (Korea Bizwire) — The number of restaurant franchises surged even in 2021 when the hospitality industry was hit hard by the COVID-19 pandemic. According to data from the Fair Trade Commission, the number of franchise restaurants stood at 167,455 at the end of 2021, up 23.9 percent year on year. This figure [...]
SEOUL, April 13 (Korea Bizwire) — While most restaurants are facing a serious survival crisis due to the coronavirus outbreak, hamburger franchises are showing better performance thanks to take-out and delivery services. McDonald’s Korea reported that more than 10 million cars visited McDrive, McDonald’s drive-thru service, in the first quarter this year. Shinsegae Food Inc.’s [...]
SEOUL, Dec. 20 (Korea Bizwire) — Consumers consider the brand’s ‘owner risk’ as an important standard of choice when eating out. According to a survey of 1,000 men and women between the ages of 16 and 64 conducted by market research firm Embrain Trend Monitor, more than half of respondents felt that “There have been [...]
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 [...]