While shared kitchens are growing in popularity in many countries, the South Korean market is seen as particularly ripe for the development of delivery-only restaurants. More here:
SEOUL - Chef Youm Jung-phil plans to close his restaurant in Seoul’s affluent Gangnam district this month, worn down by the rising cost of labor and rent as well as declines in the number of customers eating in.
“But the risks are low and I’ll have the opportunity to experiment with various menus without high cost,” he said, adding his rent will fall by roughly two-thirds. “That Kalanick and other investors are entering Korea speaks to its attractiveness as a market for cloud kitchens. It’s a big market and is growing faster than the U.S,” said Jimmy Kim, CEO of investment firm SparkLabs.
“Investors are plowing money into South Korea which is coming to the fore in the global delivery market,” said WECOOK CEO Andy Kim, adding he expects shared kitchen firms to use lessons learned in Korea and apply them to other Asian markets.While shared kitchens are growing in popularity in many countries including the United States and China, the South Korean market is seen as particularly ripe for development of delivery-only restaurants.
Single person households accounted for 29% of South Korean households in 2018, almost double 2020 levels as high living costs make marriage and children a less popular option.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Mexico Uber driver unknowingly gives ride to gas station robberFairly new to the Uber driving job at the time, Terry Owen’s last stop was a gas station in northwest Albuquerque when the ride-sharing request was made.
Read more »
Uber Subsidiary Grants Ethereum Startup Access To Entire American FleetFollowing news last month that Uber joined Facebook and 26 other companies to found the Libra Association, developing the libra cryptocurrency for global payments, this latest development shows an increased willingness of the $70 billion publicly traded company to dabble in blockchain.
Read more »
Manhattan to JFK in 8 Minutes? Hail an Uber CopterUber is branching out into helicopters, offering a quick trip to John F. Kennedy International Airport.
Read more »
An Uber executive says the company hopes to eventually open its platform to third-party developersThuan Pham said at a conference Tuesday that Uber wants to emulate Amazon's web services product to supplement revenue and help turn a profit
Read more »
Uber expands 'no talking' rides and launches helicopter serviceUber announced it is expanding its conversation-free car trips to more rides and launching a helicopter service in New York City for a speedy (and expensive) trip to the airport.
Read more »
Uber Subsidiary Grants Ethereum Startup Access To Entire American FleetFollowing news last month that Uber joined Facebook and 26 other companies to found the Libra Association, developing the libra cryptocurrency for global payments, this latest development shows an increased willingness of the $70 billion publicly traded company to dabble in blockchain.
Read more »