Ahead of Seol, 25.3 Billion KRW Payment Made Through 'Bulgongjeong Subcontract Reporting Center'

Fair Trade Commission, Results of Operating the Unfair Subcontracting Reporting Center
Achievement of Early Payment of 3.0954 Trillion KRW Before Lunar New Year

[Asia Economy Reporter Joo Sang-don] Company A reported to the Unfair Subcontracting Reporting Center that it had not received subcontract payments and additional construction costs related to design changes for D earthwork and reinforced concrete construction. In response, the center confirmed the facts with the primary contractor, explained the possibility of violating the Subcontracting Act, and induced voluntary correction, resulting in payment of 1.814 billion KRW before the Lunar New Year.

The Fair Trade Commission installed and operated unfair subcontracting reporting centers (hereinafter referred to as the Reporting Centers) at 10 locations nationwide for 52 days from December 21 last year to February 10 to ensure timely payment of subcontracting fees ahead of the Lunar New Year.

As a result, through the Reporting Centers, 190 small and medium subcontracting companies were able to receive a total of 25.3 billion KRW in subcontract payments.

Additionally, the Fair Trade Commission requested cooperation from major companies to enable early payment of subcontracting fees scheduled for payment after the Lunar New Year, resulting in 76 companies making early payments of 3.0954 trillion KRW to 19,108 small and medium enterprises before the Lunar New Year.

A Fair Trade Commission official stated, "Cases that were not corrected during the operation period of the Reporting Centers will be handled through on-site investigations, etc. We plan to continuously conduct inspections of unfair subcontracting transactions to focus our efforts on establishing proper payment practices for subcontracting fees."

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