Fair Trade Commission Resolves Payment of 30 Billion Won for Unfair Subcontracting Fees

[Asia Economy Sejong=Reporter Dongwoo Lee] The Fair Trade Commission announced on the 4th that it operated unfair subcontracting reporting centers at 10 locations nationwide ahead of this year's Lunar New Year holiday, enabling a total of 264 small and medium subcontracting companies to receive 30 billion KRW in unpaid payments.

The Fair Trade Commission previously operated the unfair subcontracting reporting centers for a total of 54 days from December 6 last year to the 28th of last month. The performance of the reporting centers during the Lunar New Year holidays over the past three years was 31.1 billion KRW in 2020, 25.3 billion KRW last year, and 30 billion KRW this year.

Separately, the Fair Trade Commission requested early payment of subcontracting fees scheduled to be paid after the Lunar New Year, resulting in 113 companies making early payments totaling 3.7068 trillion KRW to 22,832 small and medium enterprises before the holiday.

The Fair Trade Commission stated, "For cases received during the reporting center operation period that have not been corrected, we plan to conduct on-site investigations and take action," adding, "companies found to be in violation of the law will be encouraged to voluntarily correct their actions, and if they fail to do so, strict measures will be taken."

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