Baemin's operator, Woowa Brothers, announced on the 15th that it will advance approximately 36.7 billion won in settlement payments to its partner businesses ahead of the Chuseok holiday.
The early payments will apply to all partners utilizing food services such as store delivery, Baemin delivery, and pickup orders, as well as commerce services like Baemin shopping and Baemin market.
Under normal circumstances, settlement payments for sales made on the 21st would be received after the Chuseok holiday on the 28th. However, with this early payment initiative, partners will receive their funds two business days later, on the 23rd.
Baemin has a tradition of conducting early settlements during major holidays like Chuseok and Lunar New Year. Last year, the company advanced 38.3 billion won in settlement payments ahead of the Chuseok holiday.
Choi Seong-gil, head of the Payment Settlement Product Division at Woowa Brothers, stated, "We have decided to expedite the settlement payments this Chuseok so that many business owners can enjoy a prosperous holiday. We will continue to do our best to provide practical support to our partners."
Additionally, Baemin has been a leader in establishing settlement systems that support small business stability. In April 2019, it became the first delivery platform to implement a daily settlement system for its partners, and in 2022, it reduced the settlement cycle from four days to three.
The early payments will apply to all partners utilizing food services such as store delivery, Baemin delivery, and pickup orders, as well as commerce services like Baemin shopping and Baemin market.
Under normal circumstances, settlement payments for sales made on the 21st would be received after the Chuseok holiday on the 28th. However, with this early payment initiative, partners will receive their funds two business days later, on the 23rd.
Baemin has a tradition of conducting early settlements during major holidays like Chuseok and Lunar New Year. Last year, the company advanced 38.3 billion won in settlement payments ahead of the Chuseok holiday.
Choi Seong-gil, head of the Payment Settlement Product Division at Woowa Brothers, stated, "We have decided to expedite the settlement payments this Chuseok so that many business owners can enjoy a prosperous holiday. We will continue to do our best to provide practical support to our partners."
Additionally, Baemin has been a leader in establishing settlement systems that support small business stability. In April 2019, it became the first delivery platform to implement a daily settlement system for its partners, and in 2022, it reduced the settlement cycle from four days to three.
* This article has been translated by AI.
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