Korea Federation of SMEs Holds 'Desirable Utilization Strategy Seminar for Linked Payment System'

The Korea Federation of SMEs announced on the 14th that it held a "Desirable Utilization Strategy Seminar for the Linked Payment System" at the Federation of SMEs in Yeouido, targeting about 100 purchasing officers and executives of small and medium-sized enterprises.

This seminar, prepared to enhance the utilization of the system by SMEs, proceeded in the order of ▲Legal obligations of the linked payment system ▲How to fill out the linked agreement ▲Checklist for concluding the linked agreement ▲Guidance on linked agreement support projects.

No Hyung-seok, Director of the Unfair Trade Improvement Division at the Ministry of SMEs and Startups, explained the legal obligations following the implementation of the linked system and the key points SMEs should check when introducing the system. Afterwards, a Q&A session followed regarding terms related to the agreement, how to write the linked agreement, and the linking methods.

In particular, in response to a participant's question about whether the linked system applies to companies that do not use natural materials in product manufacturing, Director No explained, "The raw materials subject to the linked system include not only natural materials but also compounds, processed materials, and intermediate goods, so the scope of linkage can be applied diversely according to the characteristics of the company."

Seol Dong-in, team leader at the Korea Price Association, who explained how to fill out the linked agreement, stated that since the linked system applies to raw materials accounting for 10% or more of the delivery payment, it is important for SMEs to calculate the proportion of raw materials and have the capability to provide evidence for this.

Yang Chan-hoe, Head of the Innovation Growth Headquarters at the Federation of SMEs, said, "We will continue to promote the system and provide guidance so that the linked payment system can be quickly established on-site, and we will also actively support consulting for linked agreements, including verification of major raw materials."

Meanwhile, the Korea Federation of SMEs is continuously recruiting participating companies for the "Support Project for Concluding Linked Agreements, including Verification of Major Raw Materials" to assist SMEs in concluding linked payment agreements.

This support project is divided into two areas: ▲Issuance of raw material proportion certificates and linked system education to identify major raw materials accounting for 10% or more of the delivery payment, and ▲Consulting support for linked agreements, including reviewing linked system eligibility requirements and proposing appropriate benchmark indicators. Detailed information can be found on the Federation of SMEs website.

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