Ministry of SMEs Visits Doosan Bobcat Korea, a Leading Linked Company, for a Meeting
Sharing External Economic Uncertainties with Partner SMEs
Through the Payment Linkage System
The Ministry of SMEs and Startups announced on the 26th that it held a meeting by visiting Doosan Bobcat Korea, an excellent company in the 2024 linkage system. This event was organized to discover exemplary cases of the payment linkage system and to check the difficulties faced on the ground.
Doosan Bobcat Korea is a large company primarily engaged in the manufacturing and sales of industrial vehicles, especially forklifts. Recently, it commercialized the hydrogen forklift for the first time in Korea, pioneering private market channels. Currently, it has signed linkage agreements for 39,508 cases with 56 entrusted companies, and it is expected that the payment for deliveries will increase by about 1.2 billion KRW for a total of 24 companies, demonstrating excellent performance in sustainable management.
Amid rising burdens on small and medium enterprises due to soaring import raw material prices caused by recent exchange rate increases, some large companies including Doosan Bobcat Korea are sharing the damage to partner companies caused by exchange rate fluctuations through the payment linkage system. When the exchange rate surged in January this year, Doosan Bobcat Korea shared exchange rate risks with partner SMEs by increasing the delivery price of radiators through linkage agreements.
Recently, as anti-dumping tariffs on Chinese steel products are expected to be imposed to protect the domestic steel industry, there are concerns about rising steel purchase prices for SMEs. The payment linkage system is expected to be utilized as a mechanism to reflect the increase in steel purchase prices in delivery prices for SMEs.
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Kim Woo-sun, Policy Officer for Win-Win Cooperation at the Ministry of SMEs and Startups, said, “It is difficult for SMEs to respond on their own to the rapidly changing external economic environment,” adding, “The Ministry of SMEs and Startups will actively prepare on-site support measures to spread the cases of excellent win-win cooperation companies like Doosan Bobcat Korea.”
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