[Alpha Biz= Reporter Kim Sangjin] Smoothie King, operated by Shinsegae Food, will cease operations in South Korea by October 2025, marking the end of its presence after approximately 22 years since the first store opened in Myeongdong, Seoul, in 2003.
On the 22nd, industry sources reported that Smoothie King Korea sent a notice to franchise owners on the 20th regarding the upcoming closure. A representative from Shinsegae Food stated, "We have been in prolonged negotiations with the U.S. headquarters over the business rights in Korea, but we could not agree on contract renewal terms and received a request to terminate the contract."
Smoothie King had opened 305 stores nationwide in 2021, but the number has gradually declined, dropping to 266 in 2022 and 169 in 2023, with only around 90 locations remaining currently. Shinsegae Food plans to support franchise owners in transitioning to different business models.
Originally launched in the U.S. in 1973 as a fruit beverage brand, Smoothie King began its Korean operations in 2003 and Shinsegae Food acquired a stake in the brand's Korean business in October 2015.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
