Foodservice industry in South Korea - Statistics & Facts

South Korea is home to a lively foodservice industry, where people like to eat out or simply order food online to be delivered straight to their homes. The nation’s growing GDP and high urbanization rate are often mentioned as the basis for the country’s thriving foodservice industry.

What is the dining culture like in South Korea?

South Koreans are known to love to dine out. Especially in Seoul, the price of the ingredients to cook a meal at home are often not that much higher than just going to a restaurant, getting takeout, or ordering food delivery. According to survey results, households in South Korea showed a tendency to spend more on eating out as their income level increased; a trend that held true for food delivery and takeout consumption as well. Such figures do not include the costs of dining out with friends, so the actual household expenditure is expected to be even higher when this is factored in. Additionally, the country’s working culture often includes work dinners, which happen regularly, thus adding even more value to the industry.

Who are the major players in South Korea's foodservice industry?

The country’s foodservice market is made up mostly by small- to medium-sized, family-owned businesses and in terms of sales, independent operators lead the market. Sales revenue of independent restaurants were almost twice as much as that of chain restaurants. While chain restaurants are expected to grow faster than other restaurant types thanks to their branding, independent operators are still forecasted to perform well against their competitors.

What developments have effected the foodservice industry in South Korea?

When South Korea introduced the 52-hour work week in 2018, concerns were raised by the foodservice industry about fewer work dinners and business drinks. The law came into effect for companies with more than 300 employees, and was expanded to include smaller companies in January 2020. Whether or not this will have a significant impact on the industry is yet to be determined. Another major concern for the industry is the increased prices for alcholic beverages such as beer and soju, with foodservice businesses worried about selling less drinks. Additionally, due to the outbreak of COVID-19 in South Korea in the beginning of 2020, less people are going out to public spaces. Nevertheless, consumers have still continued to show their appetite by ordering food delivery online.

What is the leading app for food delivery in South Korea?

One of the biggest headlines in the foodservice industry in South Korea in 2019 was the four billion U.S. dollar acquisition of the South Korean company Woowa Brothers by the Germany-based Delivery Hero. Woowa Brothers operates the most downloaded and used food delivery application Baedal Minjok, also known as Baemin, as well as other services. With the acquisition of the company, Delivery Hero, the company behind the popular food application Yogiyo, bought their biggest rival in the South Korean market.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Feb 2, 2024

Key insights

Foodservice sales value
88bn USD
Chain franchise restaurant sales
22.75bn USD
Independent restaurant sales
40.35bn USD
Get more insights

Editor’s Picks Current statistics on this topic

Number of users for the most downloaded food delivery applications in South Korea as of May 2023 (in million users)

Apps

Number of users of leading food delivery apps South Korea 2023

Frequency of households ordering food delivery in South Korea as of July 2022

B2C Services

Frequency of households ordering delivery food South Korea 2022

Frequency of households dining out with household members in South Korea as of July 2022

Dining Habits

Frequency of households eating out together South Korea 2022

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