Amorepacific Group Pays 87 Billion KRW Early to Partners for Lunar New Year
[Asia Economy Reporter Yujin Cho] Amorepacific Group will make early payments of 87 billion KRW in transaction funds to its partners ahead of the Lunar New Year holiday.
This payment targets 800 partner companies supplying raw materials, containers, and products to 14 affiliates of Amorepacific Group. The transaction funds amounting to 87 billion KRW, originally scheduled for payment by the 30th, will be paid in cash sequentially starting from the 16th.
An Amorepacific Group official stated, "This is to alleviate the burden on partner companies whose cash flow temporarily concentrates ahead of the Lunar New Year holiday," adding, "We will continue to prepare various win-win measures to build a genuine partnership with our partners."
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Since the mid-2000s, Amorepacific Group has been making early payments of transaction funds before the start of holidays every year to ease the financial burden of its partners. Last Lunar New Year, it also executed early payments amounting to 56.3 billion KRW.
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