Busan Urban Corporation Selected as an Excellent Institution for Promoting Win-Win Payment Expansion This Year

The Only Award Winner Among National Development Corporations

Commendation from the Minister of SMEs and Startups

Busan Urban Corporation (Acting President Park Su-saeng) received the Minister of SMEs and Startups Award in the public sector at the ‘2024 Win-Win Payment Expansion Day’ held on the 27th at the Korea Federation of SMEs (K-biz Hall) in Seoul.

Busan Urban Corporation received the Minister of SMEs and Startups Award in the public sector at the '2024 Win-Win Payment Expansion Day.' Photo by Busan Urban Corporation

Now in its fourth year, this event was planned to encourage contributors to the expansion of win-win payments and to promote excellent cases of win-win payments.

The government awarded a total of 20 prizes to individuals and organizations that contributed to the expansion of win-win payments, a national agenda, among which four public sector organizations received awards: ▲Busan Urban Corporation ▲Incheon City ▲Incheon Transit Corporation ▲Korea Marine Environment Management Corporation.

In particular, Busan Urban Corporation added significance by being the only development corporation nationwide to receive the honor among nearly 100 award candidates.

Win-win payment is a payment method that improves the payment environment for related companies by enabling not only companies that have business relationships with large corporations and public institutions but also their subordinate partner companies to receive payment for delivered goods on the payment date. Since its introduction by the government in 2015, the number of companies utilizing win-win payments has steadily increased, surpassing a cumulative 1,000 trillion KRW by the end of last year, expanding the use of win-win payments.

Busan Urban Corporation introduced the win-win payment system in October 2021 to strengthen win-win cooperation and fair trade, and the payment performance through this system has steadily increased to 12 billion KRW in 2022, 28.8 billion KRW in 2023, and 32.3 billion KRW as of November 2024. In addition, efforts to continuously expand the system through benchmarking exemplary institutions, holding practical meetings with partner companies, and internal training were highly evaluated.

Park Su-saeng, Acting President of Busan Urban Corporation, said, “I hope the win-win payment system will help small and medium-sized enterprises facing financial difficulties,” and added, “We will activate win-win payments, a payment method that can participate in spreading a culture of fair trade, and continue to strive as a public enterprise in Busan for regional win-win development.”

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