Fair Trade Commission "Measures to Pay 31.1 Billion KRW in Subcontract Payments Ahead of Seol Holiday"

Operation Results of the 'Bulgongjeong Subcontracting Report Center'

[Sejong=Asia Economy Reporter Joo Sang-don] Through the Unfair Subcontracting Reporting Center, 359 small and medium subcontracting companies were able to receive a total of 31.1 billion KRW in subcontracting payments.

The Fair Trade Commission announced on the 22nd the results of operating reporting centers at 10 locations nationwide for 53 days from December 2 last year to ensure subcontracting payments were made on time ahead of the Lunar New Year.

Through this, the Fair Trade Commission took measures to pay 31.1 billion KRW in subcontracting payments and requested cooperation from major companies to ensure subcontracting payments scheduled after the Lunar New Year would be paid early. Accordingly, 120 companies agreed to make early payments of 4.2885 trillion KRW to 19,000 small and medium companies before the Lunar New Year.

A Fair Trade Commission official said, "Cases that were reported during the operation period of the reporting center but have not been corrected will be prioritized for investigation and handling," adding, "We will continue to conduct on-site inspections of unfair subcontracting transactions and focus our efforts to establish proper payment practices."

This content was produced with the assistance of AI translation services.