SK Hynix Strengthens Cooperation with Partners and Local Communities to Boost Domestic Demand During Chuseok

[Asia Economy Reporter Ki-min Lee] SK Hynix is strengthening win-win activities with partner companies and local communities to revitalize domestic demand ahead of Chuseok.

On the 11th, SK Hynix announced that it will make early payments to small and medium-sized partner companies and launch online sales of agricultural and specialty products for its employees.

First, SK Hynix will advance the payment dates for transactions with small and medium-sized partner companies before the Chuseok holiday. The total payment amount during this period is 150 billion KRW. SK Hynix expects this to help partner companies maintain smooth cash flow.

Additionally, it plans to sell sets of agricultural and specialty products and daily necessities from the Icheon and Cheongju regions online to all employees. SK Hynix has operated offline local specialty product markets at its Icheon and Cheongju sites every holiday, but this year it will switch to online sales to prevent the spread of COVID-19.

In April this year, SK Hynix also strengthened its win-win programs by increasing the frequency of payment to small and medium-sized partner companies from three to four times a month to help those struggling due to the spread of COVID-19. Furthermore, to enhance the competitiveness of small and medium-sized partners, SK Hynix operates a total of 370 billion KRW in win-win funds, including a 300 billion KRW low-interest ‘Mutual Growth’ fund and a 70 billion KRW interest-free ‘Payment Support’ fund.

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