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Korea Franchise Association and JB Group Sign MOU to Improve Small Business Operating Conditions
23-08-16 939
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[Prime Economy] The Korea Franchise Industry Association (Chairman Jeong Hyeon-sik) announced on February 11th that it has signed an MOU with JB Group (CEO Kim Do-hyun) to help small business owners struggling with sluggish consumer spending.
The agreement was signed on February 9th at the SBA International Distribution Center in Gangseo-gu, Seoul. Through the partnership, the two organizations will collaborate to help franchise member stores adopt JB Group’s integrated mileage system to boost sales and support business recovery.
Targeting Recovery Amid Economic Challenges
During the signing ceremony, Kang Seok-woo, Executive Vice President of the association, acknowledged the difficulties faced by small businesses:
“Despite the end of the COVID-19 pandemic, many small businesses continue to struggle due to high inflation and weak consumer demand. By linking JB Group’s easy-to-use integrated mileage system with our franchise member stores, we will support their sales recovery and growth.”
Postpaid Advertising System for Smarter Marketing
JB Group operates an ICT-based platform that integrates a postpaid advertising system into its mileage program. Business owners only pay advertising fees after sales are generated, allowing for precise matching of marketing spend to actual results. The system is designed to drive customer engagement and promote increased sales and profitability for small business owners.
The association will actively promote and guide its members on the use of JB Group’s mileage system, ensuring that the rewards provided to consumers can be redeemed at franchise member stores. In return, JB Group will offer special benefits to participating franchise members and foster a positive feedback loop through consumer reward incentives.
Expanding Collaboration Through Key Initiatives
The two organizations will explore further collaboration through various initiatives, including the K-Franchise Comprehensive Support System and Korea’s largest startup expo, IFS Franchise Seoul. They plan to work jointly on system improvements and broader adoption within the industry to establish a sustainable, mutually beneficial ecosystem.
The signing ceremony was attended by over 10 officials, including Kang Seok-woo, Executive Vice President of the association, Park Ho-jin, Secretary General, and Kim Do-hyun, CEO of JB Group.
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