Theborn Korea’s South Korean store count falls to 2,993, down 75 in the first half

Theborn Korea’s store count in South Korea has fallen below 3,000. According to a Biz Hankook report published on 30 September 2026, the company’s regulatory disclosures showed a total of 2,993 company-owned and franchised stores at the end of June, down 75 from the end of last year. For those considering the South Korean franchise market, the contraction at this multi-brand restaurant group highlights the importance of examining both brand-level expansion and the retention of existing outlets.

Disclosed store count falls below 3,000

According to Theborn Korea disclosures cited by Biz Hankook, the number of company-owned and franchised stores across its 25 foodservice brands in South Korea fell from 3,068 at the end of 2025 to 2,993 at the end of June 2026. That is a net decline of 75 stores, or approximately 2.4% of the year-end total. These figures cover the company’s portfolio rather than a single brand.

Franchised outlets alone fell by 72 over the same period, from 3,056 to 2,984. Both the total network, including company-owned stores, and the franchised network therefore contracted. The change cannot be explained solely by adjustments to company-owned operations: the franchise base was also smaller at the end of the first half than at the end of last year.

However, a net decline in store numbers should not be treated as a closure count. Comparing totals at two dates does not reveal how many stores opened or ceased trading in between. The report does not provide separate figures for new openings and closures across all brands.

Falling below the 3,000-store mark indicates a change in the network’s scale, but does not in itself explain the operating condition of individual outlets. What the disclosures clearly establish is a decline in both the total South Korean network and the number of franchised stores. Changes in revenue, operating profit and franchisee earnings each require separate evidence.

September website tally puts the total at 2,930 — a separate measure

Alongside its review of the disclosures, Biz Hankook added up the stores listed on the websites of Theborn Korea’s individual brands. It reported a total of 2,930 as at 29 September, interpreting this as an indication that the decline had continued beyond the first half.

This tally offers a more recent snapshot, but its source differs from that of the end-June figure. One comes from company disclosures; the other is a media count of stores listed on brand websites. The report alone does not establish whether the two datasets use identical inclusion dates or cover exactly the same outlets.

It would therefore be inappropriate to describe the difference between 2,993 and 2,930 as a confirmed number of closures in the second half. The figures differ in both date and method of verification. When using them in articles or franchise discussions, it is more accurate to label them respectively as ‘end-June company disclosures’ and ‘website tally as at 29 September’.

Prospective franchisees assessing trading activity in a particular area should check the relevant brand’s latest store list as well as the overall network total. They should also ask for the reference dates of both the website listings and the information supplied by the franchisor. This is not to suggest that the report identified errors in any specific listing; it is simply a necessary step when comparing different sources.

Brand-level differences: Paik’s Coffee records growth

Biz Hankook reported that Paik’s Coffee was the only brand whose store count had increased since the end of last year. Even as the company’s overall network contracted, its brands did not all move in the same direction. This is another reason to distinguish group-wide totals from individual brand trends when assessing a multi-brand franchisor.

However, the report does not specify how many outlets Paik’s Coffee added or the scale of the decline at each of the other brands. It is therefore difficult to determine which brand contributed most to the overall reduction, or how far growth at Paik’s Coffee offset losses elsewhere. There is also insufficient evidence to draw up a brand-by-brand ranking.

Growth in a brand’s store count does not necessarily mean improved franchisee earnings. Equally, a shrinking network does not by itself establish that sales at the remaining outlets have fallen. Store numbers indicate the size of a franchisor’s network; they provide different information from sales per outlet or operating costs.

For a prospective franchisee, data on the chosen brand may offer a more direct basis for a decision than the group’s overall name recognition. This report can serve as a starting point, but further checks should establish how the brand distinguishes new openings, contract expiries, contract terminations and changes of ownership.

No new brand launches since 2023

The company’s brand-launch history is also noteworthy. According to the report, Theborn Korea introduced Quickban, Yeondon Ball Katsu, Nakwon Gopchang and Paik Boy Pizza in 2021, followed by Go To Wok in 2022 and Hong Kong Bunsik in 2023. Biz Hankook reported that no new foodservice brands had been launched since then.

New brand launches and new store openings under existing brands are separate measures. Existing brands can continue to add outlets even when no new brands are introduced. The absence of new brands since 2023 should therefore not be interpreted as meaning that the company has opened no new stores.

Biz Hankook reported that franchise openings had slowed sharply following various controversies last year, while store numbers at major brands continued to decline. However, the material provided does not include a quantitative analysis establishing a causal link between those controversies and the contraction. Rather than attributing the decline to a single cause, readers should distinguish the verified changes in store numbers from the report’s account of the wider circumstances.

The practical takeaway for anyone considering a franchise in South Korea is clear: look beyond the total network size and compare data for the brand of interest using consistent definitions and matching periods. When assessing a franchise, first confirm the reference date and source of the latest store count, then request separate details of openings and closures, alongside store-level profit and loss information.