Baemin, Early Payment of 57 Billion KRW Settlement Funds for Lunar New Year

Settlement Advanced Up to 5 Days

[Asia Economy Reporter Kim Cheol-hyun] Ahead of the Lunar New Year holiday, which is earlier than usual this year, Baedal Minjok will make early payments of settlement funds to help restaurant owners manage their finances smoothly.

Woowa Brothers, the operator of Baedal Minjok (CEO Lee Guk-hwan), announced on the 19th that it will make early payments of settlement funds totaling 57 billion KRW ahead of the Lunar New Year. The early payment targets include businesses listed on ▲Baedal Minjok ▲Baemin1 ▲Takeout Orders ▲Pre-orders ▲National Delicacies ▲Baemin Shopping Live ▲Baemin Sanghoe.

With this early payment, settlement payments can be received up to 5 days earlier than before. For example, payments for transactions made on the 18th would normally be settled on the 25th, after the Lunar New Year holiday, but with this early payment, they can be received on the 20th.

Settlement amounts and deposit schedules by date can be checked in Baemin Self-Service for businesses listed on Baedal Minjok, Baemin1, and Takeout Orders, and through the Seller Office for each service for businesses listed on National Delicacies, Baemin Shopping Live, and Baemin Sanghoe.

Choi Seong-gil, Head of the Order Payment Settlement Product Office at Woowa Brothers, said, "Following the shortening of the settlement cycle last year, we wanted to help business owners manage their finances by making early payments of settlement funds this Lunar New Year as well," adding, "We will continue to improve the settlement system and consider ways to support store operations."