Baemin Opens First Store for 'First My Store Setup Loan' Program
by Kim Chulhyun
Published 27 Apr.2022 09:03(KST)
'Hyunwandangyeom Sangchu Twigim' in Gwangju Metropolitan City, Moved 4 Times in 17 Years
Preparing to Open My Store in 12 Places Including Itaewon, Seoul... Second Recruitment in the Second Half of the Year
Jeogalami, the owner of 'Hyunwandangkyem Sangchu Twigim,' selected for Woowa Brothers' 'First My Store Preparation Loan' program, is holding the store signboard.
원본보기 아이콘[Asia Economy Reporter Kim Cheol-hyun] The first case of realizing the dream of owning 'My Store' with the support of Baedal Minjok (Baemin) has emerged. Woowa Brothers, the operator of Baemin (CEO Kim Beom-jun), announced on the 27th that the first 'My Store Purchase Loan' store, 'Hyeonwandangyeom Sangchu Twigim,' has opened in Chipyeong-dong, Seo-gu, Gwangju Metropolitan City.
The 'My Store Purchase Loan' is a financial support program created last September through a partnership between Baemin and KB Kookmin Bank to assist self-employed restaurant owners. It provides loans up to 1 billion KRW with up to 90% support for purchasing stores, targeting self-employed restaurant owners who have operated their businesses for over 10 years and currently rent their premises. Applicants were recruited last year, and recommended candidates were selected. Among them, 13 final loan-eligible candidates were chosen after loan consultations and credit evaluations.
Je Gal-ami, the owner of Hyeonwandangyeom Sangchu Twigim, the first case, received a loan to purchase the commercial property and additional collateral through this program. In addition to financial support, consulting for store interior needs such as menus and signage, as well as actual design and production, were provided. A promotional video was also released to publicize the purpose of the support program and the store. Je Gal said, "I had to move locations four times over more than 17 years of business," adding, "Now, I want to stay in one place, my own store, for ten, twenty, even a hundred years, together with my customers."
Woowa Brothers is accelerating support for subsequent stores as well. The second store is set to open in Itaewon, Seoul. Currently, 12 applicants from the program have been finally approved for loans and are preparing their own stores. In the second half of this year, they plan to recruit applicants for the second-year program.
Kim Beom-jun, CEO of Woowa Brothers, stated, "In addition to the first My Store Purchase Loan, we plan to develop various support programs that can grow together with restaurant owners."
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