Homeplus Pays Early to Small and Medium Partner Companies Ahead of Chuseok

[Asia Economy Reporter Lim Chunhan] Homeplus announced on the 1st that it will advance and make a lump-sum payment of various settlement costs, including product payments, to help smooth cash flow for small and medium-sized partner companies and contribute to mutual growth ahead of the Chuseok holiday on the 16th.

The companies eligible for this early payment are about 3,000 small and medium-sized partner companies excluding large corporations, totaling 117.1 billion KRW. The total payment amount has increased by approximately 28.7% compared to the previous year, and payments will be made on average 13 days, up to a maximum of 14 days earlier than the normal payment date.

Jaehoon Lee, President of Homeplus, said, “Although the situation is difficult due to the impact of COVID-19, as this year marks the first year of ESG (Environment, Social, Governance) management, we decided to increase the scale and make early payments for the holiday funds compared to last year. Without our partner companies, Homeplus cannot exist, so we will continue to pay close attention and invest in mutual growth and coexistence with our partners.”

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