According to data released by the Fair Trade Commission on March 19, the closure rate of franchise business in Korea reached 12.0 percent in 2015, up 1.1 percentage points from 10.9 percent in 2014. This figure is the highest in history.
In contrast, the opening rate of franchise business dipped by 4.7 percentage points from 25.6 percent in 2014 to 20.9 percent.
During this period, the number of franchise restaurants that were closed totaled 13,241, up 18.7 percent from 11,158 in 2014. In other words, as many as 36 franchise restaurants shut their doors per day during the period.
By business type, Korean restaurants came on top with 2,805, followed by fried chicken places with 2,793, bars with 1,657, noodle stalls with 1,375, coffee shops with 1,082, and fast food restaurants with 567.
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