Public Institutions Also Smoothly Implementing Payment Linkage System for Deliveries

Donghaeng Enterprise No.1 Public Corporation Korea Midland Power
All Applicable Transactions Linked Agreements

The Ministry of SMEs and Startups announced that Vice Minister Oh Ki-woong visited Korea Midland Power Co., Ltd., the first public enterprise participating in the joint company program, on the 29th to inspect the status of the delivery payment linkage agreement and emphasized the active adoption of the linkage system by public institutions.

The delivery payment linkage system, introduced to create a transaction culture where small and medium enterprises receive fair prices, has been fully implemented since January 1 of this year after a guidance period for on-site stabilization until the end of last year.

On this day, Vice Minister Oh checked whether the delivery payment linkage system has been operating smoothly in public institutions two months after its implementation and listened to the voices from subcontracted SMEs on site.

O Gi-ung, Vice Minister of the Ministry of SMEs and Startups, is delivering a greeting at the "Payment Price Linkage System On-site Meeting" held on the 29th at Korea Midland Power in Boryeong, Chungnam.

The cooperating SMEs participating in the meeting suggested providing various raw material benchmark indicator information, guaranteeing sufficient consultation periods when concluding linkage agreements, and continuously improving the system to eliminate blind spots, while requesting government support and supervision.

Korea Midland Power was recognized for its contribution to the spread of the linkage system and was selected as an 'Outstanding Company for Delivery Payment Linkage in 2023,' and has concluded linkage agreements for all applicable transactions since the law’s enforcement.

Vice Minister Oh said, “We will closely examine whether the delivery payment linkage system is functioning properly on site and make continuous efforts to improve the system for its stabilization,” adding, “To establish the delivery payment linkage system as a transaction practice, we will strictly respond to illegal acts including evasion and violations of the linkage system, and strengthen support such as designating additional linkage support centers, expanding support projects for concluding linkage agreements, and launching online education to ensure that SMEs and venture companies have no difficulties in concluding linkage agreements.”

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