Hanssem Supports Dealership Owners Facing Difficulties Due to COVID-19

Rent Reduction for Win-Win Standard Store Franchises... Full Rent Waiver in Daegu and Gyeongbuk for March-April, 50% Reduction Nationwide Elsewhere

Hanssem Design Park Busan Centum Branch

[Asia Economy Reporter Kim Cheol-hyun] Hanssem has announced emergency support measures for small business owners struggling due to the novel coronavirus infection (COVID-19). Hanssem(CEO Kang Seung-soo) announced on the 5th that it will waive 100% of the rent for franchise stores in the Daegu and Gyeongbuk regions' win-win standard stores for two months from March to April, and waive 50% of the rent for other regions. This measure aims to resolve the difficulties faced by franchise owners due to COVID-19. Accordingly, about 280 franchise stores located in 40 win-win standard stores nationwide, including Daegu and Gyeongbuk, will receive support.

In particular, franchise stores in the Daegu and Gyeongbuk regions, which were hit hard by COVID-19, will receive a full rent exemption for two months, reducing fixed costs that must be paid monthly and easing the burden of store operation. The total support fund is expected to reach 800 million KRW over the two months.

Hanssem's win-win standard stores are locations where the headquarters directly leases the store to create a product showroom, and multiple franchise owners operate their businesses. These stores were established by the headquarters considering the reality of franchise owners who want to open large stores in major commercial areas but face constraints such as costs and manpower.

Additionally, as part of franchise support, Hanssem is conducting disinfection activities to ensure the safety of customers visiting the stores, sales staff working on-site, and construction partners. An emergency budget of 500 million KRW has been allocated to carry out disinfection work at large complex stores such as Design Park and small to medium-sized franchise stores nationwide. Masks are being provided to Hanssem's construction and AS partners who visit customers' homes to prevent the spread of COVID-19, with full efforts being made. A Hanssem official stated, "We will make efforts in various ways so that small business owners who are experiencing great difficulties due to COVID-19 can overcome these challenging times together."