Dongkuk Steel's Steel Shop Now Offers Deferred Payments with Introduction of "Payone Guarantee"

Deferred payment option introduced after cash and card
One-stop service for application, issuance, and credit limit management

Dongkuk Steel's e-commerce platform "Steel Shop" announced on May 11 that it will introduce the Credit Guarantee Fund's "Payone Guarantee" payment option.

Payment process guide image for Dongkuk Steel Mill Shop with the Korea Credit Guarantee Fund's 'Payone' system. Dongkuk Holdings

The Payone Guarantee is a guarantee product for e-commerce collateral. With the introduction of this service, Steel Shop now enables deferred payment in addition to existing cash and card transactions. This decision was made after considering the needs of users who frequently make small and repeated purchases in the steel e-commerce sector.

Steel Shop provides an end-to-end one-stop service on its website, covering all processes related to the guarantee, from application to issuance and credit limit management, in collaboration with the Credit Guarantee Fund.

Issuance of guarantee certificates is possible on the same day. The service operates on a limit transaction basis, offering up to KRW 1 billion per company. Additionally, a 0.3 percentage point discount is applied to the final calculated guarantee fee.

Thanks to this new deferred payment option, Steel Shop customers can now conduct credit transactions without complicated financial procedures, which is expected to shorten lead times from order to receipt of steel products and improve cash flow. Steel Shop anticipates that diversifying payment methods will enhance customer convenience, attract new customers, and promote repeat purchases.

A Steel Shop representative said, "We expect this to serve as an opportunity to accelerate digital transformation and financial innovation across the steel distribution market," adding, "We plan to continue advancing our payment and financial services and take the lead in improving the trading environment in the steel e-commerce market."

In 2023, Steel Shop became the first in the steel industry to launch the exclusive "KB Kookmin Steel Shop Corporate Card." The dedicated card has been well received, offering a 0.5% reward on Steel Shop purchases, and now accounts for 35% of all payments. In 2025, Steel Shop further expanded payment options by introducing a partnership card that allows users to accrue airline mileage.

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