I'm going to stop Timef from happening again...Settlement and deposit of at least 50% of sales price within 20 days

Settlement within 20 days of sales and deposit of more than 50% of financial institutions
Timev' not settled...KRW 1.3 trillion in loss of entry companies
Online Brokerage Market Shocked...improvement of the system

[Anchor]
The Fair Trade Commission sets the deadline for settlement of sales prices of online intermediary trading platforms within 20 days to prevent a recurrence of Timon and Wemakeff's unsettled incidents,

We have decided to revise the related law to deposit more than 50% of the sales price separately in financial institutions.

Reporter Oh In-seok on the report.

[Reporter]
The loss suffered by store sellers due to the unpaid sales price of Timon and Wemakeff amounted to 1.3 trillion won.

The government began to improve the system when the unresolved situation shocked the online brokerage transaction market.

[Han Ki-jung / Fair Trade Commission Chairman (last month 9th): As a follow-up measure to prevent the recurrence of the Timon and Wemakeff incidents, we would like to push ahead with legislation to protect our stores as soon as possible through related legal regulations such as settlement of sales prices for distribution platforms.]

The FTC's plan to revise the large-scale distribution industry law first stipulated the deadline for settlement of sales within 20 days.

The online brokerage transaction platform must pay the sales price to the store operator within 20 days from the date of confirmation of the consumer purchase.

If the contracted payment agency received the sales price, it was also required to pay within the same period.

Accommodation, travel, and performances were settled within 10 days based on the actual date of use by consumers.Businesses subject to the

Act are online businesses with domestic brokerage transaction revenues of 10 billion won or more or brokerage transactions of 100 billion won or more.

A sales price management device has also been prepared.

More than 50% of the sales were deposited separately in financial institutions or obligated to subscribe to payment guarantee insurance, allowing businesses to receive part of the sales price back even if the platform went bankrupt.

In addition, in principle, the sale price cannot be seized, and the act of transferring or providing it as collateral is prohibited.

If the platform goes bankrupt, the sales price is paid first to the business operator and reimbursed before other creditors.

The FTC has decided to put a one-year grace period after the promulgation of the bill so that online brokerage trading platforms can prepare for the new bill.

This is YTN Oh In-seok.

Edit Video: Han Soo-min