Ministry of SMEs and Startups - Fair Trade Commission Cooperate on 'Payment Linked Pricing System'... "Efforts to Settle on Site"

Minister Lee Young of the Ministry of SMEs and Startups (left) is holding a meeting on the 21st at the Seoul Creative Economy Innovation Center in Yongsan-gu, Seoul, with Chairman Han Ki-jung of the Fair Trade Commission to jointly promote the on-site establishment of the payment linkage system.

This year, the heads of the Ministry of SMEs and Startups and the Fair Trade Commission met to successfully establish the payment linkage system for delivery prices in the field.

Minister Lee Young of the Ministry of SMEs and Startups and Chairman Han Ki-jung of the Fair Trade Commission held a meeting on the 21st at the Seoul Creative Economy Innovation Center in Yongsan-gu, Seoul, agreeing to cooperate on the introduction of the payment linkage system for delivery prices.

Minister Lee reported on the status of the field implementation task force (TF) and roadshows promoted by the Ministry of SMEs and Startups after the amendment of the Win-Win Cooperation Act, which introduces the linkage system in consignment and subcontract transactions. Chairman Han explained the legislative trends in the National Assembly regarding the amendment of the Subcontracting Act to introduce the linkage system in subcontract transactions.

Both agreed that at this current stage of preparing for the implementation of the linkage system, the two ministries need to strengthen their cooperation. The legal obligation clauses, such as the mandatory written record of delivery price linkage details, will be enforced starting October 4.

Minister Lee proposed that the Fair Trade Commission Chairman serve as a co-chair of the linkage system field implementation TF. He also requested the Fair Trade Commission’s cooperation in jointly hosting roadshows to recruit 6,000 companion companies, an initiative promoted by the Ministry of SMEs and Startups. Chairman Han expressed his intention to actively consider these two requests and work together to ensure the successful implementation of the linkage system in the field.

Furthermore, the two ministries agreed to promote ▲ the preparation of a unified standard linkage agreement ▲ strengthening publicity for the delivery price linkage system ▲ additional consideration of incentives for companies participating in the linkage system.

On the same day, the Ministry of SMEs and Startups launched the official website for the delivery price linkage system. The website introduces the list and status of companies participating in the system. Companies can check the concept, actual cases, and methods of introduction of the linkage system.

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