Woowa Brothers to Advance Payment of 44.6 Billion KRW Settlement Funds Ahead of Lunar New Year
Early Settlement Payments for Baemin Small Business Owners
Payment Dates Moved Up by Up to 7 Days
To celebrate the Lunar New Year holiday, Baedal Minjok will provide early payment of settlement funds to help small business owners smoothly manage their cash flow.
Woowa Brothers, the operator of Baemin, announced on the 17th that they will make early payments of settlement funds totaling approximately 44.6 billion KRW to restaurant owners and small business operators before the Lunar New Year holiday.
This early payment of settlement funds for this Lunar New Year applies to business owners using Baemin’s advertising and services, including ▲Store Delivery ▲Baemin Delivery ▲Baemin Takeout Orders ▲Baemin Grocery Shopping and more. Eligible small business owners can receive their settlements up to 7 days earlier than originally scheduled. For example, settlement amounts generated on Wednesday, January 22, would normally be paid 3 business days later, meaning payment would have been made on the 31st after the holiday. However, with this early settlement, the payment will be deposited 7 days earlier on the 24th.
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The settlement amounts and deposit schedules by date can be checked in the Baemin Self-Service settlement details, the store management program for registered small business owners. Choi Seong-gil, Head of Payment Settlement Product at Woowa Brothers, said, “We hope this helps small business owners who have started the new year amid ongoing economic downturn to reduce their financial burden at the beginning of the year, even if only slightly,” and added, “We will continue to strive to support small business owners’ smooth business operations through various support policies throughout this year.”
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