Key Takeaways
- In 2023, South Korea's restaurant industry generated total revenue of 248.5 trillion KRW, reflecting a 5.2% year-over-year growth driven by post-pandemic recovery.
- The market size of the Korean foodservice sector reached approximately USD 170 billion in 2022, with projections to grow at a CAGR of 4.1% until 2027.
- Full-service restaurants accounted for 62% of total industry revenue in South Korea as of 2023, totaling 154 trillion KRW.
- 45% of South Koreans eat out at least 5 times a week, spending average 25,000 KRW per meal in 2023.
- Delivery app usage for restaurant orders hit 68% among urban consumers aged 20-39 in 2023.
- Average monthly dining out expenditure per household was 180,000 KRW in 2023.
- Korean fried chicken outlets dominate with 52,000 stores nationwide in 2023.
- Samgyeopsal (pork belly) restaurants number over 85,000, leading BBQ category.
- Starbucks has 1,870 outlets in South Korea as of 2023.
- The restaurant industry employs 2.8 million workers in South Korea as of 2023.
- Average monthly wage for restaurant workers is 2.8 million KRW in 2023.
- 58% of employees are part-time, totaling 1.62 million workers.
- Seoul restaurants employ 1.2 million, 43% of national total.
- Busan foodservice outlets: 45,000, generating 18 trillion KRW.
- Franchise concentration highest in Gangnam, Seoul at 60% market share.
South Korea's restaurant industry rebounded strongly in 2023, fueled by full-service dining and delivery growth.
Consumer Spending and Behavior
- 45% of South Koreans eat out at least 5 times a week, spending average 25,000 KRW per meal in 2023.
- Delivery app usage for restaurant orders hit 68% among urban consumers aged 20-39 in 2023.
- Average monthly dining out expenditure per household was 180,000 KRW in 2023.
- 72% of consumers prefer Korean BBQ when dining out, based on 2023 surveys.
- Vegetarian meal orders increased by 28% year-over-year via delivery platforms in 2023.
- Solo diners accounted for 35% of restaurant visits in Seoul in 2023.
- 55% of millennials choose restaurants based on social media reviews in 2023.
- Average wait time tolerance for popular restaurants is 20 minutes among 60% of customers.
- Health-conscious eating drove 40% of menu choices toward low-calorie options in 2023.
- Weekend dining out frequency rose to 2.8 times per person monthly in 2023.
- 62% of consumers use loyalty apps for discounts, saving average 15% on bills.
- Female consumers spend 12% more on cafe visits than males, averaging 8,000 KRW per visit.
- Group dining (4+ people) represents 48% of total restaurant revenue in evenings.
- 78% prefer contactless payments, with average transaction 22,000 KRW.
- Alcohol-paired meals see 25% higher spending per capita at 35,000 KRW.
- Seasonal menu preferences shift 30% toward hot pots in winter months.
- Tourists contribute 15% of foreign cuisine demand, spending 50,000 KRW average.
- App-based reservations grew 40% to 55% adoption rate in 2023.
- Sustainable packaging influences 52% of repeat visits to restaurants.
- Fast casual segment sees 3.2 visits per month per consumer.
Consumer Spending and Behavior Interpretation
Employment and Labor
- The restaurant industry employs 2.8 million workers in South Korea as of 2023.
- Average monthly wage for restaurant workers is 2.8 million KRW in 2023.
- 58% of employees are part-time, totaling 1.62 million workers.
- Female workers comprise 52% of the restaurant workforce in 2023.
- Youth employment (20-29) accounts for 35% or 980,000 jobs.
- Turnover rate in restaurants averages 45% annually in 2023.
- Chefs and cooks number 850,000, with 12% certification rate.
- Servers and waitstaff total 1.1 million employees.
- Foreign workers in restaurants reached 120,000 in 2023, mostly Vietnamese.
- Training programs certified 45,000 new workers in hospitality in 2023.
- Average working hours per week are 48 for full-time staff.
- Labor shortage affects 67% of small restaurants in 2023.
- Union membership in foodservice is 8%, covering 224,000 workers.
- Managerial positions held by women: 22% in 2023.
- Overtime compensation compliance rate is 72% in urban areas.
- Age 50+ workers make up 18% or 504,000 in industry.
- Delivery riders employed by platforms: 250,000 full-time equivalents.
- Skill certification exams passed by 28,000 cooks in 2023.
- Injury rate per 1,000 workers is 12.5 in kitchens.
- Benefits coverage: 65% of workers receive health insurance.
Employment and Labor Interpretation
Market Size and Revenue
- In 2023, South Korea's restaurant industry generated total revenue of 248.5 trillion KRW, reflecting a 5.2% year-over-year growth driven by post-pandemic recovery.
- The market size of the Korean foodservice sector reached approximately USD 170 billion in 2022, with projections to grow at a CAGR of 4.1% until 2027.
- Full-service restaurants accounted for 62% of total industry revenue in South Korea as of 2023, totaling 154 trillion KRW.
- Quick-service restaurants (QSR) in Korea saw revenue of 45.2 trillion KRW in 2023, up 7.8% from the previous year.
- The Korean barbecue restaurant segment generated 32.1 trillion KRW in 2022, representing 13% of the overall market.
- Total number of restaurants in South Korea stood at 620,000 in 2023, a 2.3% increase from 2022.
- Average annual revenue per restaurant in Korea was 400 million KRW in 2023.
- The delivery segment of Korean restaurants contributed 28% of total revenue, equating to 69.6 trillion KRW in 2023.
- Street food vendors added 15 trillion KRW to the industry total in 2022.
- Hotel restaurant revenues in Korea hit 12.4 trillion KRW in 2023, recovering 95% from pre-COVID levels.
- Franchise restaurants made up 45% of the market with 111.3 trillion KRW in sales in 2023.
- Independent restaurants generated 137.2 trillion KRW, or 55% of total industry revenue in 2023.
- The vegan restaurant subsector grew by 15% to 2.8 trillion KRW in revenue in 2023.
- Cafes and dessert shops contributed 35 trillion KRW to the foodservice market in 2022.
- Fine dining establishments in Seoul alone generated 8.5 trillion KRW in 2023.
- Pubs and bars saw 18.7 trillion KRW in revenue, boosted by tourism recovery.
- Buffet restaurants' revenue reached 9.2 trillion KRW in 2023, up 12% YoY.
- Food trucks numbered 12,000 and generated 1.8 trillion KRW in 2023.
- Corporate cafeteria revenues totaled 22 trillion KRW across Korea in 2022.
- The overall foodservice market CAGR from 2018-2023 was 3.5%, reaching 248 trillion KRW.
Market Size and Revenue Interpretation
Regional and Competitive Landscape
- Seoul restaurants employ 1.2 million, 43% of national total.
- Busan foodservice outlets: 45,000, generating 18 trillion KRW.
- Franchise concentration highest in Gangnam, Seoul at 60% market share.
- Jeju Island tourist restaurants: 8,200, seasonal revenue 4.5 trillion KRW.
- Incheon outlets near airport: 3,500, 20% foreign-owned.
- Daegu BBQ restaurants dominate with 12% national share.
- Gyeonggi province hosts 150,000 eateries, largest regionally.
- Competitiveness index: Lotteria leads QSR with 28% share.
- Paris Baguette tops bakery segment with 3,800 stores.
- BBQ brand dominance: 70% market in non-metro areas.
- Highlands Coffee expanding to 500 outlets by 2024.
- Mom's Touch chicken chain: 1,200 stores, 15% CAGR.
- Competitor density highest in Myeongdong at 250 per sq km.
- Rural areas see 80% independent restaurants vs 40% urban.
- Top 10 chains control 35% of national revenue.
- Gwangju street food zones generate 1.2 trillion KRW annually.
- Foreign chain penetration: 22% in Seoul, 5% nationwide.
- Ulsan industrial canteens: 2,100, employing 15,000.
- Competitiveness by HHI index: QSR 1,800 moderate concentration.
Regional and Competitive Landscape Interpretation
Restaurant Types and Segments
- Korean fried chicken outlets dominate with 52,000 stores nationwide in 2023.
- Samgyeopsal (pork belly) restaurants number over 85,000, leading BBQ category.
- Starbucks has 1,870 outlets in South Korea as of 2023.
- Traditional Korean hanjeongsik restaurants total 12,500 in 2023.
- Sushi and Japanese restaurants exceed 25,000 locations in urban areas.
- Pizza chain stores reached 4,200 nationwide in 2023.
- Vegan and plant-based eateries grew to 2,100 stores, up 22% YoY.
- Ramen specialty shops number 18,000, with average 150 seats each.
- Bakery-cafes total 95,000 outlets, 15% of all foodservice.
- Chinese restaurants stand at 42,000, focusing on jjajangmyeon.
- Western fast food franchises operate 8,500 branches in Korea.
- Hot pot (shabu-shabu) restaurants number 22,000 in 2023.
- Dessert-only shops reached 15,200, driven by bingsu trend.
- Craft beer pubs grew to 3,800 locations since 2020.
- Noodle houses (kalguksu etc.) total 28,500 outlets.
- Seafood restaurants specialize with 19,000 along coasts.
- All-you-can-eat buffets number 5,600 nationwide.
- Halal-certified restaurants reached 450 in 2023 for Muslim tourists.
- Robot-served restaurants operate in 120 locations in Seoul.
Restaurant Types and Segments Interpretation
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