The GPMemorandum, Issue 173 (International Issue)

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In this Issue:

- South Korea Adopts Franchisee Protectionist Legislation:

In an apparent response to increased competition within certain segments of the restaurant and bakery industries, the Korean National Assembly...

- Remodeling Cost-Sharing Now Required by Franchisor:

A franchisor requesting that a franchisee remodel the franchised store must now bear up to 40 percent of...

- Franchise Agreements Must Stipulate Franchisees’ Business (Protected) Territories:

Before the Amendment, the Act did not require franchisors to define a business (protected) territory in the franchise...

- New Disclosure Provisions on Sales Forecasts:

Before the Amendment, franchisors were not required to provide franchisees with any information on sales or revenue projections, although any information franchisors elected to provide...

- Restrictions on Reasonable Business Hours:

The Amendment prohibits franchisors from refusing to grant a franchisee’s request for reduced business operating hours...

- Franchisees within a System Can Form a Union:

The Amendment allows franchisees belonging to the same franchise system to form a “trade union” and...

- Extended Time Period for Franchise Fee Refunds:

Under the Act, franchisors must refund franchise fees in certain statutorily defined...

- Impact on U.S.-based Franchisors:

Franchisors considering expansion into South Korea must consider the impact of the Amendment and the current...

Please see full publication below for more information.

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