Gyeonggi Province: "Franchisors Must Complete Disclosure Document Amendment Registration by the 30th"

The Gyeonggi Provincial Government announced that franchisors must complete the regular amendment registration of the "Franchise Disclosure Document," which allows prospective franchisees to check information on the franchisor before signing a contract, by April 30, 2026.

The Franchise Disclosure Document is a file that summarizes information such as the business status of the brand operated by the franchisor and details related to franchisees. It serves as an important reference for prospective franchisees in deciding whether to enter into a contract.

Franchisors are required to provide this information before signing a franchise agreement, and the document is made public after being reviewed and registered by Gyeonggi Province.

Gyeonggi Provincial Government

According to the current "Fair Transactions in Franchise Business Act," franchisors must apply for the regular amendment registration of the disclosure document within 120 days (by April 30, 2026) after the end of each business year. For individual business owners who prepare financial statements, the application period is within 180 days (by June 29, 2026).

Failure to comply will result in fines: 2 million won for the first violation, 5 million won for the second, and 10 million won for the third.

Applications can be submitted by mail, in person, or online through the Fair Trade Commission's Franchise Business Transaction website (franchise.ftc.go.kr).

Seo Bongja, Director of Fair Economy Division at the Gyeonggi Provincial Government, emphasized, "Franchisors must submit their regular amendment registration within the designated period," and urged, "Please be careful not to miss the deadline in order to avoid disadvantages such as fines."

This content was produced with the assistance of AI translation services.