CJ Group to Advance Payment of 330 Billion KRW to Partners Ahead of Chuseok

Advance Payment for Delivery Fees Every Holiday Season Since 2015

[Asia Economy Reporter Lim Hye-sun] CJ Group announced on the 6th that it will make early payments of approximately 330 billion KRW in settlement payments to partner companies ahead of the Chuseok holiday.

Accordingly, about 5,500 small and medium-sized suppliers cooperating with CJ's six major affiliates are expected to benefit. Although there are differences depending on each affiliate's standards, on average, payments will be made about one month earlier than the usual payment date.

The scale is expected to reach approximately 140 billion KRW for CJ CheilJedang, about 75 billion KRW for CJ Logistics, about 55 billion KRW for CJ ENM, and 50 billion KRW for CJ Olive Young. In addition, CJ Freshway and CJ OliveNetworks will also make early payments of up to 10 billion KRW to partner companies for each company.

A CJ Group official said, "Since 2015, we have been making early payments of settlement payments to partner companies every holiday season to promote mutual growth and domestic demand activation," adding, "We hope this will help alleviate the temporary financial burden on small and medium-sized partner companies ahead of the holiday."

Meanwhile, CJ Group operates various mutual growth programs for partner companies by affiliate. CJ CheilJedang was selected as an 'Honorary Company of Mutual Growth Excellence' in the Mutual Growth Index announced by the Win-Win Growth Committee last year. It was recognized for being the first in the industry to achieve the highest grade for five consecutive years. In particular, CJ CheilJedang's 'Joyful Companion' is regarded as a representative mutual growth model that supports competitive partner companies with funding and market development.

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