Fair Trade Commission's On-site Briefing on the 'Subcontract Payment Linkage System'

Starting on the 14th in Suncheon

[Image source=Yonhap News]

The Fair Trade Commission announced on the 13th that it will hold regional briefing sessions on the Subcontract Price Linkage System in collaboration with the Korea Fair Trade Mediation Agency.

The Subcontract Price Linkage System is a mechanism that adjusts subcontract prices when the prices of major raw materials, which account for more than 10% of the subcontract price, fluctuate beyond a predetermined ratio.

The briefing sessions are scheduled to be held on the 14th in Suncheon for companies in the Honam region. On the 15th, a session will be held in Daegu for companies in the Yeongnam region.

The Fair Trade Commission plans to meet directly with company representatives to explain the overall Subcontract Price Linkage System and provide guidance on how to prepare the standard linkage contract.

A Fair Trade Commission official stated, "We plan to continue expanding the major regional on-site briefing sessions."