South Korea: Food Service - Hotel Restaurant Institutional
The long-term outlook for South Korea’s Hotel, Restaurant and Institutional (HRI) sector is positive, with strong growth up until the COVID-19 pandemic. As in other countries, the pandemic hit Korea’s HRI sector especially hard. Spending on dining out and lodging in Q1 2021 was 4.5 percent lower than the year before. Employment in the HRI sector has also dropped sharply.