SK Stoa Supports Cash Liquidity for Small and Medium Partner Companies

SK Stoa announced on the 16th that it will introduce the 'Distribution Network Win-Win Payment System' promoted by the Ministry of SMEs and Startups on the largest scale in the distribution industry.

(From left) Sung Young-su, Vice President of Hana Bank; Min Jae-seok, President of Korea T-Commerce Association; Oh Ki-woong, Vice Minister of the Ministry of SMEs and Startups; Yoon Seok-am, CEO of SK Stoa; Kim Young-hwan, Secretary General of the Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture and Fisheries, are posing for a photo. Photo by SK Stoa

The Distribution Network Win-Win Payment System allows partner companies to receive sales payments quickly even before the settlement date if needed. Currently, partners usually settle sales payments every 10 days, but by utilizing this system, they can receive payments within at least 3 days.

The funds are secured using deposits prepared from SK Stoa's own resources. SK Stoa supports the 'Distribution Network Win-Win Payment' on the largest scale in the industry, providing 75 billion KRW monthly and 900 billion KRW annually so that partners can convert sales payments into cash early if needed before the settlement date.

Until now, some partners faced difficulties in cash flow, such as using high-interest loans to prepare new products before sales payment settlements, but this system is expected to alleviate such challenges to some extent.

To commemorate the introduction of the system, the company held a proclamation ceremony on the same day. Attendees included SK Stoa CEO Yoon Seok-am, Ministry of SMEs and Startups Vice Minister Oh Ki-woong, Korea T-Commerce Association Chairman Min Jae-seok, Hana Bank Vice President Sung Young-soo, and Korea Foundation for SMEs and Startups Secretary General Kim Young-hwan.

Yoon Seok-am, CEO of SK Stoa, stated, “We decided to introduce this on the largest scale in the distribution industry as we believe it will reduce the financial burden on our partners and contribute to economic revitalization. We will continue to take the lead in creating a genuine win-win growth ecosystem with small and medium social enterprises through ESG management.”

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