First in the Financial Sector
IBK Industrial Bank announced on May 19 that it has signed a business agreement with Korea Seven to support free enrollment in embezzlement compensation insurance for Seven-Eleven convenience store franchise owners, including coverage for part-time employee incidents.
Through this agreement, from May 19 to July 30, IBK Industrial Bank will provide free insurance enrollment on a first-come, first-served basis to franchise owners who open a non-face-to-face demand deposit account via Corporate Smart Banking (i-ONE Bank Corporate) and register the account as their franchise settlement account.
The compensation limit for the embezzlement compensation insurance is up to 2 million won per business location, and franchise owners can easily enroll in the insurance when opening the account without submitting any additional documents.
An IBK Industrial Bank representative stated, "This product was designed as part of our social responsibility to reduce management risks for small business convenience store owners," and added, "We expect this partnership to play a significant role in creating an environment where convenience store franchise owners can operate their stores with greater peace of mind."
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