[Economy pick] Stop the 2nd "Timpe"!with a 20-day settlement cycle

[Anchor]
It's time for Economic Pick, which kindly solves economic issues.

Reporter Lee Hyungwon is here today.

Welcome.

Let's look at the first keyword in the video composition first.

Are there measures to prevent the recurrence of Timon and Wemakeprice incidents?

[Reporter]
Yes, the damage grew out of control due to the delay in the settlement of Timon and Wemakeprice.

We also intensively reported the related damage that occurred in July and August.

A plan to revise the law was announced today to prevent this from happening again.

This is the content of the large-scale distribution law revision plan unveiled by the Fair Trade Commission.

The most noticeable thing is that the long settlement cycle, which was considered a key problem that increased the damage, is shortened.

When the consumer confirms the purchase, the sales price is settled within 20 days from this day.

Previously, for Timon and Wemakeff, the settlement cycle reached a maximum of two months.

The long cycle had the problem of giving open market operators an excuse to use funds elsewhere.

From the perspective of small business owners who have been supplying goods to the open market, they had a hard time operating the business because they did not receive the sales payment quickly.

[Small business owner (last July): I think it will be paid in about 50 days. The funding problem is tough. That's why I'm worried even if I sell a lot, and I'm worried even if I don't.]

In the end, it was pointed out that the long settlement cycle increased the damage, so we decided to shorten it significantly.

In particular, if services are supplied after purchase, such as accommodation or performance, we have changed the payment settlement to be made within 10 days based on the actual date of use.

[Anchor] The suspicion of misappropriation of funds cannot be left out of the
Timpe incident.

There's also a related measure, right?

[Reporter]
Yes, we have prepared the device so that the sales price is only used for settlement.

If the platform manages payments directly,

has deposited more than half of its sales in financial institutions or signed up for payment guarantee insurance.

Sales deposited in this manner cannot be seized,
The
platform cannot be transferred or provided as collateral.

Through this, even if the platform goes bankrupt, the business operator can receive the payment first.

Of course, some may point out that you need to deposit 100% to manage it most safely.

It is said that the ratio was lowered in consideration of the fact that this could lead to a liquidity crisis for operators.

[Anchor]
Then, will the measures prepared this time be implemented immediately?

[Reporter]
First of all, the plan announced today is to present the contents to be included in the revision of the law.

If the amendment is proposed, it will have to pass the National Assembly.

Even if it passes like this, it will take time to implement it.

This is because the important contents of the business method change, so we decided to put a grace period.

Once the bill is promulgated, a one-year grace period has been given so that operators can prepare for the way it has changed.

At the end of all procedures, the amendment applies to online brokerage transaction operators with sales of more than 10 billion won or the size of brokerage transactions, that is, sales of more than 100 billion won.