Annual interest rate of 15.5% for drug payment delays starts on 23 December

Medical institutes and medicine suppliers which delay payments for medicines for more than 6 months will need to pay annual interests of 15.5% for the payment delay.

The Ministry of Health and Welfare(Minister Neung-Hoo Park) pre-announced the ‘Regulations of the Interest Rate for Delayed Payments for Medicine Trading’ on the 19^th.’

This was a follow-up action from the 2015’s ‘Revision Bill t...