POSCO E&C to Advance Payment of 65 Billion KRW to Small and Medium Partner Companies
[Asia Economy Reporter Moon Jiwon] POSCO Engineering & Construction announced on the 7th that it will advance the payment of 65 billion KRW in transaction funds to help small and medium-sized partner companies manage their finances smoothly ahead of the Lunar New Year.
The payment targets 938 small and medium-sized enterprises. The funds that were to be paid from the 10th to the 17th of this month will be paid in full in cash on the 9th, two days before the Lunar New Year holiday.
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A POSCO Engineering & Construction official said, "Since 2010, we have been paying the full transaction amount in cash to alleviate the financial difficulties of small businesses," adding, "We plan to continue support such as low-interest loans through the Win-Win Growth Fund and the 'Together Win-Win Loan,' which provides collateral based on contracts with partner companies."
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