Home&Shopping to Advance Payment of 10 Billion KRW to Small and Medium Partners Before Lunar New Year Holiday

Home&Shopping announced on the 7th that it will make early payments of approximately 10 billion KRW in product payments to ensure smooth cash flow for its partners ahead of the Lunar New Year. Home&Shopping's early payment of product sales proceeds is a system that pays the expected settlement amount for the period in advance before the Lunar New Year holiday. It is expected to help secure liquidity for small and medium-sized partners.

The scale of early payment for this Lunar New Year is estimated to be around 900 small and medium-sized partners and about 10 billion KRW. In addition, Home&Shopping operates by shortening the payment timing of product sales proceeds to one of the shortest in the industry. The payment timing has been shortened by one day from the existing 4 business days after settlement closing to 3 business days, allowing partners to receive their sales proceeds settlement within 3 business days.

This average payment cycle is at least 2 days and up to 7 days faster compared to the industry. Since 2020, Home&Shopping has started early payment of sales proceeds to small and medium-sized partners during holidays and has utilized about 82 billion KRW for the coexistence of small and medium enterprises until last year.

A Home&Shopping official said, “The number of small and medium enterprises struggling due to the economic downturn is increasing,” and added, “We hope this will provide some support for small and medium enterprises in managing their holiday funds.”

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