MUSINSA to Make 130 Billion Won in Early Settlement Payments to Listed Brands

[Financial News] MUSINSA will make settlement payments to brands listed on its platform ahead of the Chuseok holiday.
According to MUSINSA on the 14th, it will make early payments totaling 130 billion won to more than 10,000 partner companies listed on the MUSINSA and 29CM online stores.
MUSINSA made the decision to ease the liquidity burden on its listed brands and support business stability. Ahead of the Chuseok holiday, which begins on the 24th, it will make advance payments on the 22nd for purchases confirmed between the 1st and the 20th.
MUSINSA currently settles and pays for purchases confirmed from the first through the last day of each month in a lump sum on the 10th of the following month.
MUSINSA makes early settlement payments every year ahead of major holidays.
A MUSINSA representative said, "We hope this measure will provide tangible support for our partners’ smooth cash flow and business stability."
[email protected] Kang Myeong-yeon Reporter