The Ministry of SMEs and Startups (Minister Oh Young-joo, hereinafter referred to as the Ministry of SMEs and Startups) announced on the 31st that it will fully promote on-site support for the 25-year supply price linkage system.
According to the results of the '24-year supply price linkage system survey' announced by the Ministry of SMEs and Startups on February 17, the most urgent task for expanding the system is to raise awareness of the linkage system and ease the burden of cost disclosure on contract companies.
The supply price linkage system was implemented in earnest in January 2024 to prevent a vicious cycle in which the consignee bears the loss resulting from an increase in raw material prices after signing a consignment/consignment transaction contract, thereby leading to instability in the supply chain.
The Ministry of SMEs and Startups plans to provide education and consultation to member companies and other companies through the nationwide joint expansion support headquarters to raise awareness in the field. Any company (including public institutions) that wants education and consultation can apply for education and consultation to each joint support headquarters.
Currently, a total of 93 briefing sessions are planned nationwide. Representative examples include the Korea Federation of SMEs and Agricultural and Fishery Cooperation Foundation, which will promote education on the linkage system for contracted companies and their partners that are subject to the Shared Growth Index and Public Institution Shared Growth Evaluation, and the Korea Federation of SMEs, which will promote education on the linkage system and the supply price adjustment agreement system for cooperative member companies by industry.
Meanwhile, we plan to continue providing free support to 1,000 companies through the 'Support Project for Signing Linked Agreements on Confirmation of Major Raw Materials' following '24' in '25. The support project provides 'Issuance of Major Raw Materials Confirmation Certificate' through cost analysis and '1:1 customized consulting'.
First, 'Issuance of Key Raw Material Certificate' allows the consignee to provide cost information to a third-party specialized agency other than the consignor to confirm whether or not the consignee is a key raw material, and the consignor can determine whether or not the consignee is subject to the linkage system through the key raw material certificate prepared by the specialized agency.
In addition, for small and medium-sized enterprises that have difficulty in writing a linkage agreement, we also provide 1:1 customized consulting from specialized institutions on whether a specific transaction is subject to the linkage system and how to appropriately set and confirm price reference indicators for specific raw materials.
The recruitment notice for the 'Project to Support the Conclusion of Linkage Agreements, including Confirmation of Major Raw Materials' can be found on the official website of the Linkage System for Supply Prices and the website of the Large, Medium and Small Business and Agricultural and Fishery Cooperation Foundation . Companies wishing to participate can inquire and apply through the contact information of the Linkage Expansion Support Headquarters and specialized agencies listed in the notice.
Kim Woo-soon, the director of the Ministry of SMEs and Startups’ Mutual Growth and Cooperation Policy Bureau, said, “We plan to distribute a guidebook on the construction industry’s customized supply price linkage system in the first half of the year, and a collection of industry-specific and raw material-specific linkage agreement case studies in the second half of the year,” adding, “We will continue to support the field to raise awareness of the linkage system and resolve any difficulties.”
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