SEOUL, March 11 (Korea Bizwire) — South Korea’s restaurant industry is experiencing its most severe downturn since the pandemic, with business sentiment falling to levels last seen during COVID-19 social distancing measures, according to government data released on March 9. The Restaurant Industry Business Survey Index dropped to 71.52 in the fourth quarter of 2024, down 4.52 [...]
SEOUL, Feb. 18 (Korea Bizwire) — Nearly half of South Korean restaurant owners have raised their menu prices to offset mounting delivery app commission fees, which they cite as their biggest business burden, according to a new survey released on February 14. The Consumer Network for Public Interest surveyed 502 restaurant owners and found that delivery [...]
SEOUL, Jan. 3 (Korea Bizwire) — Ashley Queens and Outback Steakhouse, two leading casual dining chains in South Korea, have achieved a retail milestone by establishing locations in all three major department store groups – Lotte, Shinsegae, and Hyundai – marking the first time both restaurants have accomplished this feat. According to industry sources, Eland Eats [...]
MOKPO, Oct. 8 (Korea Bizwire) – In a unique cross-cultural television venture, Mokpo MBC and Vietnam’s VTV are collaborating on a reality program titled “Multicultural Night Market,” set in the heart of Mokpo’s old downtown district from October 7 to 11. The show, which blends elements of reality TV and culinary entertainment, centers around a vacant storefront [...]
SEOUL, Oct. 1 (Korea Bizwire) – As Seoul prepares for its annual International Fireworks Festival, a spectacle that typically draws hundreds of thousands of spectators, a frenzy for prime viewing spots is driving up prices across the city. Hotels and restaurants with coveted views of the Han River are seeing their rates soar, prompting local authorities [...]
SEOUL, Aug. 20 (Korea Bizwire) – Small business owners in South Korea are preparing to differentiate prices between in-store and delivery orders, a move triggered by a recent increase in commission fees by Baemin, the country’s largest food delivery platform. This collective action, set to begin on August 22, is raising concerns about potential inflationary pressures [...]
SEOUL, Aug. 1 (Korea Bizwire) – A recent study has revealed that the introduction of digital ordering systems in South Korean restaurants has led to a significant reduction in serving staff, highlighting the growing impact of technology on the service industry. On July 31, the Korea Employment Information Service released a report titled “Analysis of Job [...]
CHANGWON, Dec. 26 (Korea Bizwire) – A ’500 Won Restaurant,’ which guarantees children a wholesome meal for a mere 500 won, has become a noteworthy initiative in a South Korean community. Operated by the Blossom Yeojwa Social Cooperative in Jinhae, a district in the city of Changwon in South Gyeongsang Province, this initiative stands out as [...]
SEOUL, June 23 (Korea Bizwire) — South Korean telecom giant KT Corp. on Thursday announced a new service on at a restaurant in Wanju County, North Joella Province, which combines autonomous artificial intelligence (AI) serving robots with its table order solution called High Order. The restaurant operates 16 serving robots and 90 High Order devices, [...]
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 [...]