Min Seung-bae, CEO of BGF Retail, Awarded the Gold Tower Industrial Medal at the Korea Distribution Awards

Recognized for Contributions to Distribution Industry Development and Management Innovation

BGF Retail, which operates the convenience store CU, announced on the 18th that CEO Min Seung-bae received the Bronze Tower Order of Industrial Service Merit in the individual category at the 29th Korea Distribution Awards held at the Korea Chamber of Commerce and Industry on the 17th of this month.

The Korea Distribution Awards are given to companies or individuals who have contributed to the development of the distribution industry and management innovation. The awards are hosted by the Ministry of Trade, Industry and Energy and jointly organized by the Korea Chamber of Commerce and Industry, among others.

At the 29th Korea Distribution Awards ceremony, Min Seung-bae, CEO of BGF Retail (fourth from the left), and the award recipients are posing together for a commemorative photo. Provided by BGF Retail

CEO Min was recognized for expanding the base of the convenience store industry while contributing to ▲support for socially vulnerable groups ▲building community safety nets ▲co-growth with partner companies and win-win management.

BGF Retail has been operating CU Saessak Store, which supports the self-reliance of socioeconomically vulnerable groups, for 10 years, providing initial startup funds free of charge to self-support work groups. It has also developed suitable job roles for people with developmental disabilities within convenience stores and operates the CU Together program to promote their participation in economic activities. This year, it opened convenience stores for people with disabilities in Jeju, Pyeongchang, Busan, and other locations, and developed and distributed educational manuals for job training of people with severe disabilities, actively working to expand their independence and social participation activities.

In times of national disasters and emergencies, it also delivers emergency relief supplies. BGF Retail uses its own logistics infrastructure to deliver emergency relief items such as ramen and instant rice to areas in need, and this year supported relief supplies to a total of seven locations affected by fires and heavy rains. Since 2017, it has partnered with the National Police Agency to operate the 'iCU' program using a network of over 18,000 stores nationwide. iCU is a child disappearance prevention system that protects lost children (including dementia patients and people with developmental disabilities) at CU stores and hands them over to the police and their families.

To promote co-growth with partner companies, BGF Retail jointly develops new products with small and medium-sized partners while introducing a performance-sharing system that guarantees purchase quantities. Through this system, BGF Retail supported approximately 8 billion KRW last year. It has also expanded support by preparing win-win plans for co-growth with franchise stores. In fact, after applying the win-win plan at CU, daily sales of new products at CU franchise stores increased by 88%, and sales of products eligible for waste support rose by 14%.

Min Seung-bae, CEO of BGF Retail, said, "This Bronze Tower Order of Industrial Service Merit is an award received collectively by the employees, partner companies, and franchise owners who have worked together with BGF Retail to create a better society," adding, "Going forward, BGF Retail will do its best to realize greater social value and become a good friend to our society."