BGF Retail to Advance Payment of 200 Billion KRW to Franchise Stores and Small-Medium Partners

BGF Retail announced on the 26th that it will make early payments of operating settlements to franchise stores and small and medium-sized partner companies in celebration of Seollal.

[Asia Economy Reporter Lim Chun-han] BGF Retail announced on the 26th that it will advance the payment of operating settlements to franchise stores and small and medium-sized partners to the 8th of next month in celebration of Seol.

Reflecting the difficult domestic and international environment caused by the novel coronavirus infection (COVID-19), the operating settlements will be paid early so that franchise owners and small and medium-sized partners can secure cash liquidity and operate their businesses stably.

BGF Retail plans to pay approximately 200 billion KRW in settlement payments to partners and franchise stores, advance the payment of settlement amounts to about 100 partners involved in product and logistics transactions by about ten days, and also advance the January operating settlements for franchise owners nationwide.

A BGF Retail official said, “We support a stable operating environment through effective support programs, including early payment of holiday funds every year,” and added, “As partners walking the same path, we will create various cooperation programs to grow together even in difficult circumstances.”