Paris Baguette "Agrees to Allow Long-Term Store Contract Renewals Over 10 Years"

‘Janggi Store Win-Win Agreement Proclamation Ceremony’ to be Held on the 29th

On the 29th, at the 'Long-term Store Win-Win Agreement Proclamation Ceremony' held at the Korea Fair Trade Mediation Agency, Joseph Sungwook Cho, Chairman of the Fair Trade Commission (center), Jaebok Hwang, CEO of Paris Croissant (right), and Junghui Lee, Representative of the Franchisee Association (left), are posing for a commemorative photo.

[Asia Economy Reporter Lim Hye-seon] SPC Group's Paris Baguette announced on the 29th that it held a ‘Long-term Store Win-Win Agreement Proclamation Ceremony’ with the Fair Trade Commission to support the stable operation of franchise stores.

The proclamation ceremony was held at the Korea Fair Trade Mediation Agency, attended by Fair Trade Commission Chairman Cho Sung-wook, National Assembly Political Affairs Committee Chairman Yoon Kwan-seok, Paris Croissant CEO Hwang Jae-bok, and Paris Baguette Franchisee Association Representative Lee Joong-hee.

Through this agreement, Paris Baguette decided to basically allow contract renewals that previously had no separate regulations after 10 years of operation. When renewing contracts, they plan to use an evaluation system pre-agreed with franchisees and transparently guarantee procedural rights such as objections, thereby further strengthening coexistence with franchise stores.

‘Long-term stores’ refer to franchise stores that have passed the 10-year contract renewal request period recognized under the Fair Transactions in Franchise Business Act. In the case of Paris Baguette, about 35% (1,197 stores) fall under long-term stores, with the longest operating store reaching 30 years.

A Paris Baguette official said, “We have proceeded with a win-win agreement with long-term stores that have grown together over a long time based on trust,” and added, “We will continue to prepare ways for both the franchisor and franchise stores to achieve a win-win.”

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