LS Industrial Systems, Early Payment of Delivery Fees to Partner Companies Ahead of Lunar New Year

[Asia Economy Reporter Dongwoo Lee] LS Industrial Systems announced on the 20th that it has decided to advance the payment of delivery fees worth 39 billion KRW to alleviate the financial burden of its partner companies ahead of the Seollal holiday. The advanced payment, originally scheduled for settlement on the 28th, will be made six days earlier on the 22nd, before the Lunar New Year holiday.

LS Industrial Systems expects that by making early payments during the holiday period, when cash demands such as raw material payments and bonus payouts are temporarily concentrated, it will help the operations of small and medium-sized partner companies.

An LS Industrial Systems official stated, “This early execution of payment for goods is a practice of the LS Partnership, LS Group’s management philosophy of ‘Creating greater value together.’ We will continue to strive for a ‘win-win’ relationship between LS Industrial Systems and its partners within a desirable framework of mutual growth through various shared growth support programs.”

The company has been making efforts to alleviate the financial difficulties of its partner companies by advancing funds ahead of holidays such as Seollal and Chuseok since 2014, and by paying the full amount in cash for payments under 100 million KRW.

This content was produced with the assistance of AI translation services.