Emart24 Signs Win-Win Agreement with Franchise Store Owners' Council

Expansion of Out-of-Stock Compensation System and More

Kim Jang-wook, CEO of Emart24 (right), and Park Byung-wook, Chairman of the Management Owners' Council, are taking a commemorative photo after the win-win cooperation agreement ceremony. (Photo by Emart24)

[Asia Economy Reporter Lim Chun-han] Emart24 announced on the 4th that it has signed a win-win agreement with the Franchisee Association, a group of store owners.

In this win-win agreement, various support measures were added and expanded, including ▲expansion of the out-of-stock compensation system ▲payment of living support funds to stores affected by natural disasters ▲increase in annual vacation support funds for store owners ▲provision of discount benefits for funeral services.

In the out-of-stock compensation system, the product categories eligible for compensation for items ordered by franchisees but not delivered were expanded from fresh food and convenience foods to include dairy products. If a franchise store is unable to operate for more than 7 days due to natural disasters such as flooding, a living support fund of 1 million KRW will be provided. Considering the increase in labor costs due to the rise in minimum wage, the vacation support fund for store owners will be increased, and franchise stores will also receive funeral service discount benefits at the same level as employees.

Emart24 operates various support plans for franchise stores. Since last year, it has provided legal and labor advisory services freely available to all franchise stores, and plans to continue investing in IT infrastructure next year to improve operational efficiency and grow together.

Kim Jang-wook, CEO of Emart24, said, “We prioritize measures that can help franchise store operations and are doing our best to enhance competitiveness. We will continue to strengthen the competitiveness of products and marketing so that franchise stores and headquarters can grow together, and lead the spread of a culture of mutual growth in the convenience store industry through diverse investments.”