Korean Job Discussion Forums

[FistFace]

Ever seen what appears to be a very popular place just up and close their doors for good? It's frustrating, isn't it?

Welcome to Korea.

I never understood this until I heard about how it's not uncommon for a Korean building owner to double or triple rent prices on a business at contract time when it seems to be making good money. Hey -- they're raking in the dough, so why not raise the rent and enjoy a piece of the pie?

Seen this happen more than a few times in the past few years. Just mentioned it because I've seen some people grumbling about such instances as of late, and wondering why.

[Tiger Beer]

It does explain why businesses are constantly on the move - often just down the street from the original.

[RACETRAITOR]

It also explains why every business in Hongdae will at some point in the near future become a shoe store.

At the 7/11 across the street from Skunk Hell, we used to all empty out their supply of Hite Stout every Saturday. It was the beer in highest demand for months. Then, one month, they all of a sudden stopped carrying it. I figured it was just inside a zone where capitalism works in reverse.

[FistFace]

Another reason is that businesses are sometimes sold, then the original owners re-open as competition down the street. That has happened to more than a few foreign-purchased businesses in Korea, and they lost out bigtime. There is one story about a foreign entity purchasing an entire hospital, only to see the previous owners set up shop down the street and steal all of their old doctors (and their business) back.