Fair Trade Commission to Select 'Agency Partner Companies'... 3 Bonus Points in Fair Trade Agreement Compliance Evaluation

'Supplier-Agency' Voluntary Win-Win Culture Expansion Induction Purpose

[Sejong=Asia Economy Reporter Joo Sang-don] The Fair Trade Commission announced on the 27th that it will select suppliers who ensure stable transactions, support interior costs, and provide rent support as 'Agency Companion Companies' to promote the spread of a win-win culture in the agency sector, and grant additional points during the fair trade agreement implementation evaluation in the agency sector.

An official from the Fair Trade Commission explained, "We will select excellent companies that strive for mutual growth with agencies by guaranteeing stable transactions through long-term contracts and supporting costs incurred during interior and renewal, as Agency Companion Companies. This is intended to reward past win-win efforts and encourage the conclusion of fair trade agreements in the agency sector to promote the spread of a win-win culture between suppliers and agencies."

The Fair Trade Commission plans to award certificates to companies selected as Agency Companion Companies, allowing them to use this certification in their promotions. In particular, to promote the expansion of fair trade agreements in the agency sector, Agency Companion Companies will receive an additional 3 points in the agreement implementation evaluation when concluding agreements.

According to the Fair Trade Commission’s survey on agency transactions conducted from 2018 to 2020, the renewal period for agencies is mostly short-term (1 year 64.5%), with long-term contracts being a minority (3 years 4.3%, 4 years or more 4.1%), indicating a high demand for long-term contracts from agencies.

Accordingly, the Fair Trade Commission plans to select companies that meet requirements such as guaranteeing stable transactions through long-term contracts with agencies, supporting interior and renewal costs, and providing rent, financial, and funding support as Agency Companion Companies. To be selected, companies must have no violations of the Agency Act (correction orders or higher) in the past year from the application date and must use the standard agency contract.

Specifically, companies can apply as Agency Companion Companies if they meet at least one of the following five criteria: ▲ setting the contract period or contract renewal request guarantee period to 5 years or more at the initial contract ▲ supporting 50% or more of the initial interior costs and renewal costs ▲ operating financial and funding support systems such as interest rate and rent support (at least 0.4% of the previous year’s sales) ▲ exemplary use of online and offline win-win models ▲ being rated as the best or excellent company in the agency sector agreement implementation evaluation within the past year (excluding additional points for agreements).

The Fair Trade Commission will accept applications from companies meeting the selection criteria until the 19th of next month. After reviewing the application forms and supporting documents (contracts, cost support plans, and execution-related documents), companies will be selected as Agency Companion Companies. In November this year, certificates will be issued and an award ceremony held for companies selected as outstanding win-win companies in the agency sector.

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