Public Home Shopping to Advance Payment of 27 Billion KRW to Partners Ahead of Lunar New Year

Payment Advanced by 7 Days for Over 1,100 Partner Companies

[Asia Economy Reporter Kim Cheol-hyun] Public Home Shopping (CEO Jo Seong-ho) announced on the 27th that it will prepay approximately 27 billion KRW in sales proceeds to small and medium-sized partner companies in celebration of the Lunar New Year holiday.

This is to facilitate smooth financial operations for small and medium-sized partner companies. The transaction payments, which are scheduled to be paid by the 3rd of next month, will be prepaid today. Public Home Shopping expects that this early payment of transaction funds will help improve the cash liquidity of partner companies struggling with financial management due to the ongoing impact of COVID-19. The payment targets about 1,100 partner companies trading with Public Home Shopping, and the transaction payments will be made entirely in cash.

Additionally, Public Home Shopping aims to establish itself as a sustainable and trusted public sales channel by actively promoting an ESG (Environmental, Social, and Governance) management system this year. Lee Hyun-jung, head of the Management Planning Team at Public Home Shopping, said, "This prepayment of sales proceeds can be seen as part of practicing ESG management by sharing the difficulties of our partner companies," adding, "We will continue to actively seek and implement win-win solutions that enable mutual growth with many partner companies, with the belief that the growth of small and medium-sized enterprises is the growth of the public."