Payment of 25.5 Billion KRW Before Chuseok Holiday Through 'Unfair Subcontracting Reporting Center'

[Asia Economy Reporter Joo Sang-don] The Fair Trade Commission announced on the 7th that it operated the 'Unfair Subcontracting Reporting Center' to ensure timely payment of subcontracting fees ahead of Chuseok, enabling 164 small and medium subcontractors to receive a total of 25.5 billion KRW in subcontracting payments.

The reporting center was established and operated at 10 locations nationwide, including 5 regional offices, the Fair Trade Mediation Agency, the Construction Association and the Specialized Construction Association, and the Korea Federation of SMEs, from August 10 to September 29 (51 days) this year.

Additionally, the Fair Trade Commission requested cooperation from major companies to ensure that subcontracting fees scheduled for payment after Chuseok would be paid early, resulting in 107 companies making early payments of 2.0896 trillion KRW to 18,062 small and medium subcontractors before Chuseok.

A Fair Trade Commission official stated, "For cases received during the operation period of the reporting center that have not been corrected, we plan to handle them through on-site investigations, etc. If violations of the law are confirmed, we will encourage voluntary correction, and if voluntary correction is not made, strict measures will be taken."

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