On the 20th, KB Securities said it signed a memorandum of understanding (MOU) on the "introduction and expansion of win-win payment" with Doosan, the Korea Environmental Industry & Technology Institute (KEITI), and the Foundation of SMEs and Subcontractors for Co-prosperity at an on-site roundtable hosted the previous day by the Ministry of SMEs and Startups to expand win-win payment.
Win-win payment is a payment method designed to ensure that delivery payments made by purchasing corporations such as large companies to first-tier partners are securely paid to second-tier and lower partners. Partners can be guaranteed cash payment on the settlement date and can monetize early at relatively low interest rates by leveraging the purchasing corporation's creditworthiness.
At the roundtable, the newly built "one-stop win-win payment system" was introduced. Unlike the previous system, which required purchasing corporations and lower-tier partners to have accounts at the same financial institution for payment to be possible, the new system allows payment of settlement funds even when the financial institutions differ.
Through this, purchasing corporations and partners can smoothly use win-win payment even if they use different financial institutions.
KB Securities said that with the launch of this service, it plans to build financial infrastructure that allows corporate customers to conveniently use win-win payment and to contribute to creating an inclusive financial environment by improving partner companies' access to finance.
A KB Securities official said, "Based on our expertise in the financial investment business, we will continue to expand win-win finance and contribute to the sustainable growth of the corporate ecosystem, putting truly productive finance into practice."