GS Retail to Pay 130 Billion KRW to Franchise Stores and Partners Before Chuseok

Decision to Advance Payment Up to 2 Weeks Earlier Than Original Date to Support Business Owners' Chuseok Preparations and Ensure Cash Flow for Small and Medium Partners

[Asia Economy Reporter Lim Hye-sun] GS Retail announced on the 16th that it will advance the payment of a total of 130 billion KRW in settlement funds and goods payments to GS25 franchise owners and partner companies in celebration of Chuseok.

GS Retail has decided to advance the payment of 70 billion KRW in settlement funds to GS25 franchise owners and 60 billion KRW in goods payments to partner companies supplying products to GS Retail on the 28th and 29th, respectively. As a result, franchise owners will receive their settlement funds 14 days earlier than the original payment date (previously October 12), and partners will receive their payments 6 days earlier (previously October 5).

GS Retail normally operates on the principle of 100% cash payments every 10 days instead of monthly payments to help small and medium-sized partners secure liquidity.

In addition to advancing settlement payments to GS25 franchise owners, GS Retail signed the industry's first win-win cooperation agreement between headquarters and franchise owners in 2016. It also operates various mutual growth programs such as electricity bill support, fresh food and perishable goods waste support, free legal advisory services for franchise owners, and group accident insurance that benefits both owners and employees.

Besides early payment of holiday funds and 100% cash settlement every 10 days, GS Retail runs ‘Jeongdo Management Voice’ and ‘Partner Voice’ channels to allow partners to freely express their concerns and opinions. It also holds ‘Yours Day’ annually, inviting partner company executives and employees to enjoy and communicate together. Furthermore, GS Retail organizes export consultation meetings for excellent partners and strives for mutual growth with partners through building diverse communication channels and fostering a culture of fair trade.

A GS Retail official stated, “GS Retail advances settlement funds and payments every year during holidays to help GS25 franchise owners efficiently manage funds and to assist small and medium-sized partners, whose product transactions are increasing, in securing liquidity.” He added, “We will continue to build a strong culture of mutual growth through win-win programs to support franchise owners and partners facing difficulties due to the prolonged COVID-19 pandemic.”

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