Twosome Place Signs Voluntary Agreement to Strengthen Franchisee Coexistence

At the autonomous agreement signing ceremony held on the 25th at the Korea Fair Trade Mediation Agency in Jung-gu, Seoul, (from left) Lee Seung-chang, President of the Global Franchise Association, Cho Sung-wook, Chairman of the Fair Trade Commission, and Lee Young-sang, CEO of Twosome Place, are taking a commemorative photo. Photo by Twosome Place

[Asia Economy Reporter Moon Hyewon] Twosome Place announced on the 25th that it will continue efforts for mutual growth with franchisees by participating in a voluntary agreement aimed at coexistence with franchise owners.

On the same day, Twosome Place held a signing ceremony for the voluntary agreement to ensure fair transactions in the food service franchise business at the Korea Fair Trade Mediation Agency in Jung-gu, Seoul, attended by Cho Sung-wook, Chairman of the Fair Trade Commission, Lee Seung-chang, President of the Global Franchise Association, and Lee Young-sang, CEO of Twosome Place.

The agreement is a voluntary pact involving six leading franchise brands in the food service industry, including Twosome Place, and the Global Franchise Association. It consists of provisions for mutual growth between franchisors and franchisees, such as minimizing mandatory items, stable contract renewals for long-term stores, and obligations to operate directly managed stores.

As a leading domestic cafe franchise brand, Twosome Place has carried out various activities to support franchisee coexistence. In 2018, it established and implemented a mutual growth plan between the franchisor and franchisees, and since last year, to share the difficulties faced on the ground due to COVID-19, it has provided support totaling 4.5 billion KRW, including subsidies and quarantine supplies, to all franchise stores in three rounds.

Despite the COVID-19 situation, Twosome Place continues to invest for the sustained growth of the brand and franchise stores. Last year alone, it invested approximately 40 billion KRW in store environment improvements, IT infrastructure and production facility expansion, R&D center establishment, and O2O service expansion.

CEO Lee said, “Despite the difficult business environment caused by the sudden outbreak of COVID-19 early last year, we have spared no effort to support franchisees and improve store operating conditions,” adding, “We will do our best for mutual growth with our franchisees.”

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