Find XO: Bill Passed to Reduce Payment Period for Large Retailers' Direct Purchase from 60 Days to 35 Days (jungbunews.com)

- The amendment to the Large-scale Distribution Industry Act passed the National Assembly on September 17, shortening the payment period for direct purchase from the receipt of goods from 60 days to 35 days, and the periods for special purchasing agreements, consignment, and leasing from 40 days to 20 days. - Teams that create brands and supply large retailers will see faster settlements, but those who buy and sell through direct purchase will pay out cash earlier by the same number of days if they scale up. - Enforcement is set for 1 years after promulgation, so there is time to reassess cash flow.