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.
Mirae Asset Global Investments Co. Ltd. invested 54 billion won ($48 million) last week in mezzanine debt secured on two warehouses leased to FedEx Corporation on behalf of South Korean institutional investors, in its second investment in the logistics facilities&hellip
Hana Financial Group, the parent company of KEB Hana Bank, will acquire a shopping center building and its surrounding land in a small Japanese city in a deal worth around 50 billion won ($44 million), with a view to reselling&hellip
KEB Hana Bank, a leading South Korean lender, has arranged $300 million lease financing for an aircraft portfolio of Avolon, in the first financing arrangement by a South Korean bank for the Irish aircraft leasing firm, according to local newspaper reports.&hellip