Kwon Won-gang, Founder of Kyochon F&B, Donates 10 Billion KRW of Personal Wealth for Social Contribution

Reflecting on the Value of Coexistence: Kyochon’s 30th Anniversary

[Asia Economy Reporter Lim Hye-seon] Chicken franchise Kyochon F&B announced on the 14th that its founder, former Chairman Kwon Won-kang (photo), will donate 10 billion KRW of his personal wealth for social contribution in celebration of the company's 30th anniversary.

Founder Kwon Won-kang said, "Kyochon's growth over the years was possible because of the franchise stores and partner companies working together," adding, "I believe it is a natural duty to give back through social contribution." The 10 billion KRW donated by Chairman Kwon will be used to establish a public interest foundation and create a win-win fund.

Chairman Kwon is regarded as a pioneering figure in the franchise industry. In his youth, to support his family, he worked as a street vendor, overseas construction worker, and taxi driver before starting Kyochon Chicken at the age of 40.

Opened on March 13, 1991, in a small 10-pyeong (approximately 33 square meters) store in Gumi City, Gyeongsangbuk-do, Kyochon Chicken grew into the nation's number one chicken franchise by practicing fair management and coexistence with its franchisees, based on Chairman Kwon's principles.

Chairman Kwon stepped down from his executive position in 2019, emphasizing that systematic and specialized systems capable of flexibly responding to rapidly changing environments are essential for Kyochon's sustainable growth. Since then, Kyochon has operated under a professional management system with separated ownership and management, successfully becoming the first in the industry to be listed on the KOSPI last year.

So Jin-se, Chairman of Kyochon F&B, stated, "We will uphold the founder's will and continue to do our best for mutual growth through win-win cooperation."

Meanwhile, to commemorate its 30th anniversary, Kyochon held an online celebration event on the 12th. During the ceremony, outstanding franchise stores and partner companies were recognized and awarded in various categories.

This year, the Grand Prize and Excellence Award for outstanding franchise stores were awarded to Kyochon Chicken Haengsin Station Branch and Jinsari Branch, respectively, and appreciation plaques were presented to 32 partner companies including Geumhwa Food, Jogwang Food, and Daegu Shopping Bag.

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