Hyundai Heavy Industries Group to Advance Payment of 110 Billion KRW to Partners Before Chuseok
[Asia Economy Reporter Park Soyeon] Hyundai Heavy Industries Group announced on the 15th that it plans to make early payments for materials to its partner companies ahead of Chuseok.
The three shipbuilding companies of Hyundai Heavy Industries Group?Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries?plan to pay approximately KRW 110 billion for materials delivered by about 1,680 partner companies between the 11th and 20th of this month, five days earlier than the regular payment date, on the 25th.
This is to support the cash flow of partner companies facing double hardships due to COVID-19 and typhoon damage ahead of Chuseok.
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A Hyundai Heavy Industries Group official said, "We will continue to make efforts to strengthen coexistence with our partner companies to overcome the difficult shipbuilding industry situation."
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