There are only a few stores left in Shanghai to accompany your founder Jiang Xun to commit suicide at home.

Korean Coffee, which entered the Chinese market in 2012, has more than 600 stores in the Chinese market at its peak. After the resignation of CEO Qi Dong's open letter in 2015, it once again attracted public attention, and its founder Jiang Xun was revealed to have committed suicide at home.

Recently, South Korea's "Asian economy" quoted Seoul's Ruicao Police Department as saying that Kang Hoon, a representative of KH, which was known as the "coffee king" and built coffee chains such as "Caffe Bene", "Hollys Coffee" and "Mangosix", committed suicide in the bathroom of his home in Seoul's Rico district at 05:46 local time on the 24th. There was no suicide note at the scene. The police said: "the company is in a financial crisis. Jiang Xun sent a text message to a friend on the 23rd that he was very tired."

Jiang Xun (Photo: Yonhap)

Jiang Xun, 49, founded Hollis Coffee in 1998, served as a "coffee with you" representative in 2010, founded KH in the same year, founded Mangosix in 2011, and bought two coffee shops last year. But there has been a sharp decline in Mangosix stores, declining sales and a heavy deficit burden.

Coffee with you who entered the Chinese market in 2012 mentioned in its official website that Coffee with you, as a model of Korean coffee chain, was founded in Seoul, South Korea in 2008 and now has more than 900 stores in South Korea. The opening of the first coffee store in Beijing in April 2012 marks the full start of the coffee company in the Chinese market. It has set up seven regions and quickly opened stores across the country, widely distributed in China's first, second and third-tier cities.

Caffebene (Special Reading) (Coffee with you) official website shows that it is a coffee chain with multiple franchise stores in South Korea, and all but 30 stores are franchise stores in South Korea. In fact, coffee accompanies you to continue this tradition in mainland China, in addition to taking advantage of the popularity of "you from the Star" to hire Kim Soo-Hyun as a spokesman, but also greatly liberalize to open and expand, with more than 600 stores in China at its peak.

Coffee accompany you once proposed that "the number of chain stores in China will reach 5000 by 2015". It is obvious that this plan has long been put on hold. Take the Shanghai market as an example, at present, there are only more than a dozen stores in Shanghai. As you can see from Dianping, there are only 11 stores in Shanghai that accompany you with coffee, such as Hongquan Road, but two of them, CaffeBene Coffee (Binjiang Bailian) and Caffebene (Jiajie Square store), are closed, while Caffebene (Caohejing Development Zone store) is not open for the time being.

Since 2014, coffee accompanies you with wage arrears, arrears, shop closures, public protests by franchisees, resignation of CEO Qi Dong and other negative news, its stores in China have also been shrinking, and Kopi Luwak, which was once expected to be the pick-up, will eventually stop because coffee accompanies you with more than 1 billion in debt, turning to buying another well-known Korean coffee chain-ZOO COFFEE.

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