The GPMemorandum, Issue 173 (International Issue)


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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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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