Korea Federation of SMEs Holds Regional Delivery Payment Linkage System Briefing Session

Explanation of Legal Obligations and Strategic Use of the Delivery Payment Linkage System

The Korea Federation of Small and Medium Business (Kbiz) announced that it held a 'Regional Delivery Payment Linkage System Briefing Session' for about 100 purchasing officers and employees of small and medium enterprises (SMEs) over three days from the 25th to the 27th.

Kbiz, designated by the Ministry of SMEs and Startups as the 'Linkage Expansion Support Headquarters,' has been promoting industry-specific training and regional briefing sessions for SMEs to support the on-site establishment of the delivery payment linkage system, which has been in effect since October 4th last year.

This briefing session focused on major inquiries from SMEs over the past year since the system's introduction and covered ▲ legal obligations of the delivery payment linkage system ▲ how to prepare linkage agreements and calculate the proportion of raw materials ▲ precautions related to the system ▲ and guidance on linkage agreement support projects.

Yang Chan-hoe, Head of the Innovation Growth Division at Kbiz, said, “We will continue to provide system guidance and promotion to ensure the delivery payment linkage system is established in regional industrial sites, while actively working to collect SMEs’ difficulties and improve the system.”

Meanwhile, Kbiz is continuously recruiting participating companies for the 'Support Project for Concluding Linkage Agreements Including Verification of Major Raw Materials' to assist SMEs in concluding delivery payment linkage agreements. Detailed information can be found on the Kbiz website.