Homeplus to Advance Payment to Partner Companies Ahead of Chuseok

[Asia Economy Reporter Seungjin Lee] Homeplus announced on the 13th that it will make early payments to support smooth cash flow for small and medium-sized partner companies ahead of the Chuseok holiday.

The early payment targets approximately 3,400 companies, mainly small and medium-sized partner companies excluding large corporations, with payments totaling about 81.3 billion KRW.

Homeplus decided to pay these small and medium-sized partner companies in a lump sum on the 25th, about 10 days earlier on average than the normal payment date, before the Chuseok holiday.

Im Ilsun, CEO of Homeplus, said, "Despite the worst-ever performance and difficulties caused by the COVID-19 pandemic, we have decided to invest our own financial costs to pay for products before the holiday as part of sharing pain and co-growth with our partner companies. We hope this will provide a small help for small and medium-sized partner companies to reduce financial burdens and prepare for Chuseok sales."

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