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.
South Korea’s top financial regulator will cut reserve requirements by half for insurance firms’ cross-border infrastructure assets from as early as June, paving the way for domestic insurers to boost overseas alternative investments. The Financial Supervisory Service (FSS) is working&hellip
The Government Employees Pension Service (GEPS) has awarded overseas private debt fund mandates for opportunistic strategies to Apollo Global Management and Cerberus Capital Management to invest up to $160 million, according to the South Korean pension fund on March 24.&hellip
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip