South Korea Sees Decline In Coffee Shops – CoffeeTalk

South Korea’s coffee shops, eateries, and convenience stores are experiencing a decline due to a prolonged economic slowdown and sluggish domestic demand. The National Tax Service reported 95,337 coffeehouses in service in Q1, down by 743 from the same period a year earlier. Fast food chains and convenience stores also fell to 47,803 and 53,101 by end-March, respectively. Industry officials attribute the decline to market saturation and slowing domestic demand, as well as large commission fees for delivery platforms. Many retirees who have started self-employed businesses are closing down due to market saturation and slowing domestic demand.

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