SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s Supreme Court has ordered Pizza Hut Korea to refund 21.5 billion won (about $16 million) to franchise owners, ruling that the company illegally collected undisclosed margin-based fees without explicit contractual consent—a decision expected to reverberate across the country’s franchise industry. In a final ruling issued Thursday, the Supreme [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea’s Supreme Court is set to deliver a closely watched ruling this month in a long-running dispute over franchise fees involving Pizza Hut Korea, a decision that could reshape the financial practices of the country’s franchise industry. According to the food service sector, the Supreme Court’s Civil Division 3 [...]
SEOUL, Nov. 6 (Korea Bizwire) – Pizza Hut Korea filed for court receivership after being ordered to pay billions of won in damages following a lawsuit by franchise owners, marking a significant downturn for the once-prominent pizza chain in South Korea. The company submitted its application for bankruptcy protection to the Seoul Bankruptcy Court on November [...]
SEOUL, Nov. 3 (Korea Bizwire) — Pizza Hut Korea said Wednesday it has joined hands with food delivery app Yogiyo to launch a menu for singles, as well as to strengthen its takeout service. To this end, the company will launch a brand devoted to single people solely through the delivery app. This move is [...]
SEOUL, Aug. 31 (Korea Bizwire) – Yum! Brands Inc., the U.S.-based fast food chain operator, has sold its Korean unit of Pizza Hut to a local investment company, Pizza Hut Korea said Thursday. Yum! Brands signed a deal with Orchard One Inc. on Wednesday to sell its 100-percent stake in Pizza Hut Korea. The two [...]
SEOUL, Jan. 3 (Korea Bizwire) – South Korea’s anti-trust regulator on Tuesday slapped a 526 million won (US$437,000) fine on Pizza Hut Korea for its unfair business practice against local outlets. The U.S.-based restaurant chain has collected a total of 6.8 billion won from franchisees here in the name of marketing and management fees outside [...]