Kim Bong-jin Helps Struggling Restaurant Owners in Crisis

Chairman Kim's 10 Billion Won Donation Fund... 'Elegant Boss Care Fund'

Chairman Kim Bong-jin

Kim Bong-jin, chairman of Woowa Brothers, is supporting self-employed restaurant owners with donations. As the prolonged COVID-19 pandemic, including the spread of the Omicron variant, is expected to worsen the financial difficulties of small business owners, Baedal Minjok (Baemin) has rolled up its sleeves to provide support. Since strengthened quarantine measures inevitably cause damage to the dining industry, the company plans to prepare multifaceted support measures.

According to Woowa Brothers, which operates Baemin, applications for the recently launched ‘Woahan Sajangnim Salpim Fund’ have begun. This fund is operated with 10 billion KRW donated by Chairman Kim as part of his promise to give back to society through Hope Bridge Korea Disaster Relief Association, providing up to 17 million KRW per person. Baemin explains that the fund supports medical and living expenses for restaurant owners nationwide who face medical costs beyond their capacity due to sudden illness or accidents. Living expenses are provided for emergency operations when running the store becomes difficult due to illness or accidents. Eligible recipients are restaurant owners with annual sales of 300 million KRW or less, or those earning below 140% of the median income.

This is not the first time Chairman Kim has personally supported members of the food delivery ecosystem. In 2019, he donated 2 billion KRW to establish the ‘Woahan Rider Salpim Fund’ to ensure a healthy working environment for delivery riders. This fund provides emergency medical and living expenses to riders who suffer traffic accidents while delivering food.

In addition, Baemin is implementing various policies to support the dining industry this year. A representative example is the extension of the free service fee policy for ‘Baemin Takeout Orders’ until March this year. Originally, the exemption from brokerage fees for Baemin’s takeout order service was until December last year. To help restaurant operations amid the prolonged COVID-19 situation, the exemption period was extended by three months. Baemin Takeout Orders is a service where customers pre-order and pay for food through the app and then pick it up. It is evaluated as helpful in maintaining restaurant customers when in-store dining becomes difficult due to strengthened quarantine measures.

The basis of Baemin’s support measures lies in the recognition that Baemin’s sustainability depends on the survival of the dining industry. Since 2020, Baemin has provided support measures exceeding 80 billion KRW to overcome the COVID-19 crisis. These include a 50% refund on advertising costs for partner merchants, interest support for policy funds for small business owners, and exemption from service brokerage fees. A Baemin official stated, "We will continue to think and act to create a healthy dining industry and provide services that contribute to our society, environment, and customers’ lives."

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