Korea Franchise Industry Association, Remax, the world's largest real estate network, business partnership

Korea Franchise Industry Association, Remax, the world's largest real estate network, business partnership

As Korean franchise (K-Franchise) brands are entering the overseas market in earnest riding on the recent Korean Wave, the Korea Franchise Association (Chairman Cho Dong-min) signed a business agreement (MOU) to support the globalization of Korean franchise brands with RE/MAX (Chairman Dave Rieneger), the world's largest real estate franchise company, and RE/MAX Korea (CEO Shin Hee-sung) at the Korea Franchise Association office in Seocho-dong, Seoul at 5:00 PM on June 16.

The business agreement ceremony was attended by Chairman Cho Dong-min of the Korea Franchise Association, CEO Shin Hee-sung of Remax Korea, Vice President Larry Overley of Global Remax Headquarters, and Dong Wei, the Asia Regional Manager of Remax Headquarters.

  According to the business agreement, the Korea Franchise Association will provide business and investment information on Korean franchise brands hoping to expand globally to the global Remax franchise network and agents through Remax Korea (CEO Shin Hee-sung), Remax's Korean master franchise, by utilizing the Remax global information network. In addition, Remax partners around the world will actively cooperate based on their expertise when investigating overseas local commercial districts and locations and discovering stores for Korean franchise brands hoping to expand overseas. 

 Remax is the world's largest real estate network, with 6,480 franchises in 97 countries around the world and over 94,000 agents working under the franchises.

    Larry Overly, Vice President of Global Remax, said that one of the secrets to the success of over 90,000 agents operating in 97 countries is Remax’s IT system that connects the world. He also predicted that actively promoting Korean franchise brands on the Remax information network in the future will be of great help in the globalization and overseas expansion of Korean franchise brands. 

 Shin Hee-sung, CEO of Remax Korea, expressed his determination to take the lead in promoting K-franchises to Remax partners around the world. He also expected that Remax’s expertise would greatly contribute to the real estate strategies of overseas local operators of Korean brands in selecting appropriately located business locations. 

Chairman Cho Dong-min of the Korea Franchise Association said that there are many cases where Korean franchise brands are having difficulties due to location failure regardless of whether they are conducting global business through joint ventures, direct investment, or master franchises, and asked for professional and active support from global remax operators. 

Meanwhile, Dong Wei, the Asia branch manager of Remax headquarters who attended the signing ceremony, said that K-franchises are popular in China and Southeast Asia, and that with many big issues such as the conclusion of the Korea-China FTA in the future, he would actively cooperate in helping Korean franchise brands advance into China and other Asian regions. 

Since Dave Rieneger started Remax with one office in 1973, it has grown into a global company with operations in 97 countries in just 40 years, and is called a dream company to work for among those in the real estate business. 

Experts are evaluating that Remax's business partnership with the Korea Franchise Association will be an opportunity to stimulate the development of Korea's underdeveloped service franchise industry, as it is evaluated to have an excellent motivational system that manages the dreams of business partners, an IT system that unites the world, and an online education and franchise support system.

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