Ohouse Completes Early Payment of Partner Settlement Funds Worth 67.5 Billion KRW

For Partners Struggling Due to E-commerce Settlement Payment Delays

Onul's House announced on the 2nd that it has completed early settlement payments totaling approximately 67.5 billion KRW to over 10,400 domestic partner companies. This measure was taken in consideration of the increasing number of small and medium-sized enterprises facing difficulties in fund management due to recent non-payment incidents in some e-commerce settlements.

The early settlement payments this time cover the sales proceeds of items confirmed purchased on Onul's House from the 15th to the 31st of last month, with the settlement conducted 4 days earlier than usual.

Onul's House executed the early settlement based on sound financial stability. As of the end of last year, Onul's House holds approximately 360.4 billion KRW in current assets (including cash equivalents and short-term financial instruments). Its actual current liabilities amount to about 167.5 billion KRW, resulting in a current ratio exceeding 215%, demonstrating a stable financial structure.

Currently, Onul's House settles payments to partners twice a month. Settlement amounts confirmed from purchases between the 1st and 14th of each month are paid on the 20th, and those confirmed from the 15th to the end of the month are paid on the 5th of the following month.

Jiyoung Hwan, Chief Financial Officer (CFO) of Onul's House, stated, “We decided to make early settlement payments to reduce the burden on our partners and assist in smooth fund management. We hope this decision will be of some help to our partners who are growing together with us.”

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