Expansion of Payment Linkage System Nationwide Through Network
The Ministry of SMEs and Startups will expand its support headquarters nationwide to promote the delivery payment linkage system.
On the 29th, the Ministry of SMEs and Startups announced that it will designate four additional locations for the "Delivery Payment Linkage Expansion Support Headquarters" (hereinafter referred to as the Linkage Support Headquarters) to strengthen promotion and education of the delivery payment linkage system for consigned and subcontracted companies in the field.
The Ministry plans to promote the system and provide education targeting member companies of SME support-related organizations with nationwide networks to expand the conclusion of delivery payment linkage agreements in the field.
The delivery payment linkage system was introduced to create a transaction culture where SMEs receive fair payment. When a consigner entrusts a consignee with manufacturing, construction, processing, or repair of goods, the delivery payment linkage details are recorded in the agreement, and payments are adjusted and made accordingly.
After an advisory period for field settlement until last year, the system has been fully implemented since January 1 of this year.
The newly designated Linkage Support Headquarters are ▲Korea Innovation-Based SMEs Association (hereinafter ‘Inno-Biz Association’) ▲Korea Federation of SMEs ▲Korea Federation of Small and Medium Business ▲Korea Management Innovation SME Association (hereinafter ‘Main-Biz Association’). With this additional designation, the number of Linkage Support Headquarters designated by the Ministry has increased from one to five.
The Inno-Biz Association plans to promote education and publicity of the delivery payment linkage system in connection with competency training for member companies and education for prospective Inno-Biz companies. The Korea Federation of SMEs plans to conduct promotional activities such as regional briefings targeting member companies nationwide.
The Korea Federation of Small and Medium Business will hold industry-specific group training and regional briefings for these companies. The Main-Biz Association will provide educational programs on the delivery payment linkage system and operate counseling desks targeting CEOs of member companies and certified companies at local federations, facilitating close communication with the field.
Won Young-jun, Director of the Small Business Policy Office at the Ministry of SMEs and Startups, stated, “Since the full implementation of the delivery payment linkage system, expanding the conclusion of linkage agreements is most important for the system’s settlement in the field,” adding, “We will actively strive to establish a culture of linkage agreement conclusion by strengthening education and communication with companies in the field.”
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