BGF Retail to Advance 20 Billion KRW Payments to Small and Medium Partners Ahead of Chuseok

Ahead by About Ten Days for Over 100 Companies

[Asia Economy Reporter Lim Chun-han] BGF Retail announced on the 22nd that it will make early payments of settlement funds to small and medium-sized partner companies in early next month ahead of Chuseok.

The total amount of settlement funds to be paid early this Chuseok is approximately 20 billion KRW, targeting about 100 companies engaged in transactions such as products and logistics. Considering the difficult domestic and international environment this year as well, the settlement funds, which are usually paid in the middle of the month, have been advanced by about ten days to help smooth cash flow for small and medium-sized partners and continue the win-win management efforts.

Since 2013, BGF Retail has been promptly paying settlement funds during holidays when cash demand increases to assist partners in managing their finances. Additionally, in line with its corporate identity as a good friend, BGF Retail continuously runs win-win programs for partners and strengthens partnerships.

Recently, through active overseas expansion, it is also supporting the exports of partner companies. As of the end of last year, about 50 domestic small and medium-sized partners have directly or indirectly entered overseas markets such as Mongolia and Malaysia through CU’s private brand (PB) products.

A BGF Retail official said, “We are providing various effective support programs to promote the healthy growth and stable operation of small and medium-sized partners,” and added, “We will continue to strengthen support systems and investments for partners to maintain win-win management that allows us to grow together even in difficult environments.”

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