Ottogi Advances Payment of 22.1 Billion KRW to Partners Ahead of Chuseok

[Asia Economy Reporter Lee Seon-ae] Ottogi announced on the 17th that it will provide early cash payments totaling 22.1 billion KRW to its partners ahead of Chuseok to help facilitate smooth cash flow for its partners.

Ottogi will advance payment dates by an average of about 20 days earlier than the normal payment schedule. The early payment targets include 210 companies such as OEM manufacturers, raw material suppliers, and packaging companies, and full cash payments will be made on the 23rd for supplies delivered between September 1 and 15.

Ottogi strives to maintain close relationships with its partners and promote mutual growth. An internal review committee, composed of employees from the Win-Win Growth Team and related departments, discusses and improves key issues related to win-win growth. Since 2015, Ottogi has also established a Win-Win Growth Fund to support partners and dealerships by providing loans at interest rates lower than market rates, enabling them to continue their business activities.

An Ottogi representative said, "In the situation where small and medium-sized partners are facing increased financial burdens due to the COVID-19 pandemic, we hope that the early payment of settlement funds will help alleviate their financial difficulties."

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