GS25 Introduces Insurance Compensation for Franchise Store Phone Scam Damages

On the 27th, a model at the convenience store GS25 is holding promotional material for the introduction of telephone fraud damage compensation insurance at GS25.

[Asia Economy Reporter Lim Chunhan] GS25 announced on the 27th that starting from the 1st of next month, it will introduce the country's first 'New Type Telephone Scam Damage Compensation Insurance System' for franchise store owners and employees, and apply it free of charge to all stores.

The New Scam Compensation Insurance is designed to compensate franchise store owners for damages caused by third parties who use telephone scam methods to fraudulently charge or make payments with POSA (Point of Sales Activated) cards such as Google Gift Cards sold by GS25 and convenience store cash like Culture Cash.

The compensation coverage includes up to one claim per franchise store per year, with a maximum damage amount of 700,000 KRW guaranteed, and GS25 headquarters will bear the full insurance premium for all franchise stores.

A GS Retail official stated, "To alleviate the concerns of franchise store owners from newly evolving scam damages and allow them to focus on their business activities, we have negotiated this insurance product for the first time in the country and will support all stores," adding, "We will continue to lead exemplary win-win cases in the franchise industry and spearhead ESG (Environmental, Social, and Governance) management enhancement activities."

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