Will 'Paik Jongwon's Face' Finally Disappear? Theborn Korea Plans Signboard Renewal Amid Plunging Sales and Stock Price

Explanation of New BI Candidates to Paik’s Coffee Franchise Owners
Launch of Integrated Membership Begins with Paik’s Coffee App Upgrade

Theborn Korea has officially begun the brand renewal of Paik's Coffee, marking the 20th anniversary of its launch. The company is also considering the possibility of removing the face of Paek Jongmin, CEO of Theborn Korea, from the brand's iconic logo. This move comes as Theborn Korea seeks to transform its core brand following a sharp decline in sales due to various controversies last year, which has recently been followed by a drop in its stock price.

Paek Jongmin, CEO of Theborn Korea, Yonhap News Agency

According to the industry on June 2, Paik's Coffee installed new signboards at its Jeonju Junghwasan Ecore branch in Jeonju, North Jeolla Province, and Naksan Beach branch in Yangyang, Gangwon Province on May 27. The new signboards feature a test version of the renewed BI (Brand Identity). Last month, Theborn Korea held a briefing session for franchise owners and collected opinions on several proposed candidates for the new BI. One of these candidates was selected and produced as a prototype signboard, which was then installed. Based on the feedback received, Theborn Korea plans to finalize the new BI and replace all Paik's Coffee signboards nationwide.

CEO Paek announced his intention to pursue a renewal of Paik's Coffee at the 6th regular meeting of the Coexistence Committee in April. The renewal is part of the company's commitment to support the brand at the headquarters level, aiming to overcome the continued downturn in the food service industry and restore the brand's image. At the meeting, CEO Paek promised to "repay the lost year with a decade of growth," pledging to revamp Paik's Coffee's BI, launch an integrated membership program, and conduct promotions.

Since the second half of last year, Theborn Korea has been working with external professional consultants and, starting in March this year, has held nationwide training sessions for Paik's Coffee franchise owners to gather their feedback. Initially, Theborn Korea considered allowing consumers to vote on the new BI during the renewal process. However, after internal review, the company decided to make the final decision internally while communicating closely with franchise owners.

At the same time, there are ongoing discussions about removing CEO Paek's face from the Paik's Coffee signboards. Industry observers have noted that this change could reduce reliance on the personal image of CEO Paek and strengthen the brand's independent identity, drawing significant attention to the possibility of omitting the facial character from the logo. A representative from Theborn Korea stated, "We are still reviewing several options."

Along with the BI replacement, Theborn Korea is preparing to launch an "integrated membership" program with the goal of opening it this month. To this end, the Paik's Coffee membership application will be upgraded first on June 11, with other Theborn Korea brands scheduled to be added sequentially in the future. The integrated membership focuses on establishing a unified ordering platform based on Theborn Integrated Order, allowing users to access coupons, stamps, mobile gift certificates, and promotions for Paik's Coffee and other major food service brands through a single app. The existing Paik's Coffee stamp program will remain unchanged.

A representative from Theborn Korea said, "Starting with Paik's Coffee, we plan to gradually expand to major food service brands, considering system integration and operational stability for each key brand," adding, "As we prioritize service stability and customer convenience, the final schedule may be subject to adjustment."

The renewal of Paik's Coffee's BI and the establishment of an integrated membership system by Theborn Korea appear to be part of a strategy to address ongoing sales declines and falling stock prices that have not recovered since various controversies last year. Paik's Coffee is Theborn Korea's flagship brand. According to Theborn Korea's first-quarter business report this year, the company owns 25 brands, including Paik's Coffee. Paik's Coffee operates 1,833 franchise stores and 2 directly managed stores, for a total of 1,835 outlets. Including these, the company has a total of 3,025 franchise stores and 9 directly managed stores across all brands. Paik's Coffee accounts for more than 60% of all franchise stores.

Theborn Korea's consolidated sales for the first quarter were 79.6 billion won, down 28.1% year-on-year, and the operating loss reached 4.2 billion won. The company's stock closed at 16,520 won on June 1, down 4.73% from the previous day, dropping below half of its IPO price of 34,000 won. After the shareholders' meeting in March, CEO Paek told reporters that "results may start to show after the middle of the year," adding that the company plans to expand its overseas business and pursue new ventures based on its franchise operations.

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