BGF Retail to Advance Payment of 80 Billion KRW to Partners Ahead of Chuseok
[Asia Economy Reporter Lim Chun-han] BGF Retail announced on the 6th that it will make early payments of settlement funds to small and medium-sized partner companies in celebration of this year's Chuseok.
The total amount of settlement funds to be paid early this Chuseok is approximately 80 billion KRW, targeting about 150 companies engaged in product and logistics transactions. To assist the smooth financial management of small and medium-sized partners, the scheduled payment date after the holiday has been moved up by about ten days compared to usual.
In addition to early payment of settlement funds, BGF Retail operates differentiated win-win programs for its partners. Representative initiatives include ▲ the establishment of a 13 billion KRW win-win fund ▲ operation of educational programs to enhance partner capabilities and performance ▲ support for market development through expanded purchasing consultations.
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A BGF Retail official stated, “Despite the COVID-19 situation, we are overcoming the crisis wisely based on solid trust with our partners,” and added, “We will continue to develop practical programs that enable growth together with various business stakeholders.”
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