BGF Retail to Advance KRW 30 Billion Payment to Small and Medium Partners for Lunar New Year

Establishment of Win-Win Cooperation Fund
Training Programs to Enhance Partner Capabilities Also Provided

BGF Retail, the operator of CU, announced on the 17th that it will make an early payment of approximately 30 billion KRW in settlement funds to small and medium-sized partner companies ahead of the upcoming Lunar New Year.

The payment targets about 100 small and medium-sized partner companies that trade with CU in products, logistics, and other areas. The payment is scheduled to be made in a lump sum on the 24th of this month, amounting to approximately 30 billion KRW.

This is up to 26 days earlier than the existing payment date.

This early payment of settlement funds was implemented to help partner companies, which are likely facing management difficulties due to the worsening economic situation such as sluggish domestic demand and consumer recession, in addition to the unstable domestic and international environment characterized by persistent high inflation, high interest rates, and high exchange rates.

Since 2013, BGF Retail has been providing early settlement payments ahead of major holidays such as Lunar New Year and Chuseok, when cash usage increases, to help stabilize the management of partner companies.

In addition, BGF Retail pursues mutual growth through differentiated win-win programs for small and medium-sized partners, including ▲establishing a win-win cooperation fund ▲operating training programs to improve partner capabilities and performance ▲discovering excellent partner products and developing sales channels ▲introducing a co-growth mall for small and medium-sized enterprise products.

Recently, BGF Retail has also been supporting the export activities of partner companies through active overseas expansion. As of the end of last year, about 60 domestic small and medium-sized partners have entered overseas markets directly or indirectly through over 600 CU stores in Mongolia, Malaysia, and Kazakhstan.

In particular, by exporting CU differentiated products that recorded mega hits domestically, such as the Yonsei Milk Cream Bread series and Fresh Lemon Highball, to various countries overseas last year, BGF Retail contributed to expanding sales channels for small and medium-sized partners.

Son Ji-wook, Head of Communications at BGF Retail, said, “BGF Retail has been making various efforts to grow together with partner companies based on solid partnerships built over more than 30 years. We will continue to practice mutual growth through continuous investment and effective support measures and overcome the unstable domestic and international business environment together.”

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