GS25 Signs 'Long-term Store Win-Win Agreement' with Store Owners and the Fair Trade Commission

2649 'Long-term Stores' Eligible for Contract Renewal Over 10 Years
Supporting Stable Contract Renewal and Protecting Rights of GS25 Franchise Owners

GS25 announced on the 29th that it has signed a 'Long-term Store Win-Win Agreement' in collaboration with the Fair Trade Commission and the Korea Fair Trade Mediation Agency. The main points include ▲allowing contract renewals for long-term stores operating for more than 10 years, ▲deciding on contract renewals based on an evaluation system agreed upon in advance with franchise owners, and ▲transparently guaranteeing procedural rights such as objections to franchise owners. The photo shows GS25 employees and store owners smiling together.

[Asia Economy Reporter Yuri Kim] GS25 announced on the 29th that it has signed a 'Long-term Store Win-Win Agreement' in collaboration with the Fair Trade Commission and the Korea Fair Trade Mediation Agency.

The win-win agreement ceremony held at the Korea Fair Trade Mediation Agency in Jung-gu, Seoul, was attended by GS Retail President Yoon Sung Cho, Fair Trade Commission Chairman Sungwook Cho, National Assembly Political Affairs Committee Chairman Kwansuk Yoon, Korea Fair Trade Mediation Agency Director Hyungbae Kim, heads of franchise divisions and store owner representatives, the president of the Korea Franchise and Convenience Store Industry Association, co-chairs of the National Franchise Store Owners Council, and the president of the National Convenience Store Franchise Association.

GS25 stated that it declared this 'Long-term Store Win-Win Agreement' after consultations with franchise owners nationwide to actively accept the 'Guidelines for Stable Contract Renewal of Long-term Stores' established by the Fair Trade Commission in May 2019.

The main points of the 'Long-term Store Win-Win Agreement' are ▲ permitting contract renewals for long-term stores operating for more than 10 years, ▲ deciding contract renewal based on an evaluation system pre-agreed with franchise owners, and ▲ transparently guaranteeing procedural rights such as objections for franchise owners. The company explained that this win-win agreement is significant as it allows 2,649 GS25 long-term store owners, who have been partners in developing commercial areas and securing customers and enhancing business value, to renew contracts more stably and protect their rights. The goal is for owners to focus on management activities based on stable contract periods, build trust with headquarters, and maintain a progressive relationship as business partners.

GS25 said, "With the proclamation of this 'Long-term Store Win-Win Agreement,' contract renewals will proceed according to transparent and predictable standards and procedures, enhancing GS25’s status as the first company in the industry to receive the 'Excellent' grade in the Win-Win Growth Index and as a model for franchise business transactions."

In February, GS25 launched the 'GS25 Autonomous Dispute Mediation Committee,' an expanded version of the Win-Win Development Committee to enhance communication and co-growth with franchise owners, and this month, it launched the company-wide 'ESG Promotion Committee,' making efforts to strengthen co-growth, sustainable management, and social responsibility management. GS25 operates welfare programs for franchise owners, including a 24-hour happy call service, a welfare mall exclusive to owners, free labor and legal advisory services, discounted health checkups for owners and employees, and the '20's Club,' an honorary hall for owners who have operated GS25 for over 20 years.

Park Yoonjung, president of the GS25 National Franchise Owners Council, said, "The Franchise Owners Council will do its best to communicate and cooperate with headquarters so that GS25 can receive more love and trust from owners and customers as business partners and companions."

GS Retail President Yoon Sung Cho said, "Through this long-term store win-win agreement, GS25 will stably guarantee franchise contract renewals for long-term store owners, enhance the status of GS25 and the convenience store industry as a fair franchise business transaction model, and promote exemplary expansion. We will build trust with owners through profit and sound management focused on franchise stores and further strengthen social responsibility management through co-growth."

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