Woowa Brothers, which operates Baedal Minjok, will pay settlement funds early worth about 36.7 billion won to partner merchants ahead of the Chuseok holiday running from Sept. 24 to 27, it said on Monday.

The early payout applies to all partners using its food services, including store delivery, Baemin delivery and pickup, as well as commerce services such as Baemin grocery and shopping and Baemin Store. Baemin has carried out early settlements during Lunar New Year and Chuseok holidays, supporting partner merchants that need funds during holiday periods.

Under the existing schedule, the money would have been paid on Sept. 28 after the Chuseok holiday. Under the early payout, it will be deposited on Sept. 23, two business days later. The company said partners can check settlement amounts and deposit schedules by date on each service’s settlement details page.

This is not the first time it has shortened the settlement cycle. Baemin introduced a daily settlement system in April 2019, the first in the delivery platform industry to pay settlement funds to partner merchants on a daily basis. It cut the settlement cycle to 3 days from 4 days in 2022.

Seong-gil Choi (최성길), head of payments and settlements product at Woowa Brothers, said, "We decided to pay settlement funds early again this Chuseok so that many store owners can enjoy a more comfortable holiday." He said, "We will continue to do our best to provide practical help to our partners."