Smoothie King Korea, managed by Shinsegae Food, will be shutting down its operations after failing to renew its licensing agreement with the US brand owner.

The chain, which first entered the Korean market in 2003 with a store in Myeong-dong, saw its peak in 2021 with 305 locations.

However, the number of outlets has drastically declined, with only about 90 stores remaining this year.

Once a major contributor to the global franchise, Smoothie King Korea accounted for 18% of the brand’s international sales at its height.

However, recent years have seen a steady drop in revenue, falling from USD 6.1 million in 2021 to USD 4.6 million in 2023.

Shinsegae Food is now working to support its franchisees by providing guidance on transitioning to other brands within its portfolio.