Public Home Shopping to Advance Payment of 25 Billion KRW to Partners Ahead of Chuseok
Support for Over 1,000 Partner Companies
Public Home Shopping (CEO Jo Seong-ho) announced on the 20th that it will prepay approximately 25 billion KRW in sales proceeds to small and medium-sized partner companies in celebration of the Chuseok holiday. Public Home Shopping will pay the sales proceeds on the 25th of this month, nine days earlier than the original payment date of October 4th, to facilitate smooth fund management for its partners. Partner companies using Public Home Shopping's distribution network win-win payment system will be able to cash out early starting from the 21st, receiving their sales proceeds up to 13 days earlier than the usual settlement date.
This early payment of sales proceeds is a measure to help improve the cash liquidity of partner companies facing financial difficulties due to high interest rates, high inflation, and low growth. The payment targets approximately 1,000 partner companies trading with Public Home Shopping, and the full amount of 25 billion KRW in transaction proceeds will be paid in cash from the 21st to the 25th.
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Jo Seong-ho, CEO of Public Home Shopping, said, "Public Home Shopping strives to alleviate the difficulties of our partners by making early payments of sales proceeds every holiday season," adding, "We hope that more partner companies will use the distribution network win-win payment system to receive various benefits."
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