Seven Eleven Selected as a Model Case for 'Fair Trade Agreement Implementation Evaluation'

[Asia Economy Reporter Lim Chunhan] Seven Eleven announced on the 17th that it was selected as a representative exemplary case in the franchise sector in the "Fair Trade Agreement Implementation Evaluation" announced by the Korea Fair Trade Commission.

The Fair Trade Commission holds an annual presentation by selecting exemplary cases to promote the effectiveness of the Fair Trade Agreement in the market and to revitalize the agreement system. The franchise sector Fair Trade Agreement is a system to induce win-win cooperation between the franchisor and franchisees, and the Fair Trade Commission inspects and evaluates the implementation status every year. Seven Eleven was highly recognized for consistently operating a win-win program that includes open communication and various support systems to establish a culture of mutual growth for coexistence and co-prosperity with franchise stores.

Seven Eleven operates a win-win council to increase communication and mutual exchange with store owners and an autonomous adjustment committee, which is a voluntary dispute resolution body that listens to the difficulties of store owners and helps resolve them. In addition, Seven Eleven has established a 100 billion KRW franchisee win-win fund with Woori Bank to support more stable store operations, and operates an exit strategy that reduces termination costs by 50% for stores with long-term poor sales.

Choi Kyungho, CEO of Seven Eleven, said, “Mutual growth through win-win cooperation with franchise stores is the most important factor that can enhance brand value and competitiveness in the convenience store industry,” and added, “To prepare a foundation for future growth, we will continuously maintain and develop sincere win-win support systems through ongoing communication with franchise stores.”