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Franchise Seoul

Korean Franchise Market

Growth of Korean Franchise Industry Market

According to the report of Ministry of Trade, Industry, and Energy, the number of Korean franchise brands increased 7.5% from 3,905(2013) to 4,199(2014). And the number of employees also increased 7.2% from 162,855(2013) to 174,542(2014). So it shows the Korean franchise market is growing continuously.

*source: the report of Ministry of Trade, Industry, and Energy(2016)

Increasing demand about overseas franchise brands

Also the demand of overseas franchise brands in Korea is increasing as the demand of travel is increasing. People who travelled other countries want to taste the food they ate and feel the local atmosphere again. Spread of V-food is the representative example. So the Korean franchise market will be attractive to the overseas brands.

*source: http://news.mk.co.kr/newsRead.php?year=2017&no=754233, Park Soo Ho

The trend of Korean Franchise Industry Market
  • Experience-based activity : new entertainment culture like archery cafe, VR cafe, pet cafe, cartoon cafe etc.
  • Growth of single households : increasing demand of delivery food and convenience facility like coin laundry
  • Cost-effectiveness : Not only cheaper but also efficient, The things, which leaves the bubble of price, like low price coffee
  • Healing＆Health : Young people pay attention to healing items like flower delivery system, massage cafe, healthy foods for the balance of work and life and development of life’s quality.

*source: http://biz.chosun.com/site/data/html_dir/2017/12/15/2017121502013.html, Lee Kyoung Hee

By this flow, Korean market in franchise will be a great opportunity to expand the business size.

So examine Korean market with IFS!