Fair Trade Commission Chairman Seongwook Cho Meets Major Corporations: "Will Seek Win-Win Solutions for COVID-19 Damages"

Jongwook Cho, Chairman of the Korea Fair Trade Commission (right), visited Paris Baguette near Jungangno Station in Jung-gu, Daejeon on the 18th to check on the difficulties and business conditions of franchise owners struggling due to COVID-19.

[Daejeon=Asia Economy Reporter Joo Sang-don] Cho Sung-wook, Chairman of the Fair Trade Commission (photo), emphasized 'win-win cooperation' as a measure to minimize damage from the novel coronavirus infection (COVID-19). After meeting with franchise store owners on the 18th, he plans to hold a meeting next week with large corporations and partner companies facing difficulties in parts procurement.

On this day, Chairman Cho inspected the COVID-19 response status of franchise stores such as Paris Baguette located in 'Euneungjeongi Culture Street' in Jung-gu, Daejeon, and told reporters, "Early next week, I plan to meet with large corporations and partner companies that receive parts and raw materials from China to hear about the difficulties on both sides," adding, "We will listen to the challenges from both sides and discuss what measures for 'win-win' cooperation exist and how the Fair Trade Commission can assist."

He also stated that he would actively consider incentives to induce win-win cooperation in the franchise sector. In case of conflicts between franchise headquarters and store owners, a 'Model Guideline for Internal Dispute Resolution' will be created to allow for self-adjustment first, and if applied, incentives such as exemption from ex officio investigations and public disclosure orders will be provided to promote its spread.

Chairman Cho said, "In these difficult times, the best approach is to build a win-win cooperative relationship by making small concessions," and added, "The ultimate incentive is to enable both headquarters and store owners to grow together through win-win cooperation."

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