Home&Shopping Advances 11 Billion KRW in Sales Payments to Small and Medium Partners

Targeting Approximately 1,100 Small and Medium Partner Companies

[Asia Economy Reporter Kim Cheol-hyun] Home&Shopping announced on the 18th that it will make early payments of approximately 11 billion KRW in product payments to ensure smooth cash flow for small and medium-sized partner companies ahead of the Seollal holiday.

Home&Shopping's early payment of product sales proceeds is a system that pays the expected settlement amount for the period before the Seollal holiday in advance. It is expected to help secure liquidity for small and medium-sized partner companies. Home&Shopping estimates that the scale of early payment of sales proceeds for this Seollal will be about 1,100 small and medium-sized partner companies and around 11 billion KRW.

The timing of product sales payment has also been shortened. After the settlement deadline, the period has been reduced by one day from the existing 4 business days to 3 business days, allowing partners to receive their sales proceeds settlement within 3 business days.Home&Shopping explained that this is at least 2 days and up to 7 days faster compared to the industry.

A Home&Shopping official said, "Small and medium-sized partners often feel great pressure in managing their funds," adding, "We will continue to do our best to establish and operate practical policies for the stable financial management of our partners in the future."

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