Amorepacific Group to Advance Payment of 47 Billion KRW to Partner Companies
[Asia Economy Reporter Lim Hye-sun] Amorepacific Group announced on the 13th that it will advance the payment of 47 billion KRW in transaction funds in cash ahead of Chuseok to help its partners manage their finances amid the COVID-19 situation.
The recipients are about 750 partner companies supplying raw materials, containers, and products to eight Amorepacific Group affiliates. The 47 billion KRW in transaction funds, originally scheduled to be paid by the 24th, will be paid sequentially starting from the 13th.
An Amorepacific Group official said, "To ease the burden on partner companies facing increased financial needs during the holiday season due to COVID-19, we will pay delivery funds up to 11 days earlier than scheduled," adding, "We will continue to prepare various win-win measures and strive to build partnerships with our partners."
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Since the mid-2000s, Amorepacific Group has been advancing transaction payments before the start of holiday breaks to support smooth financial management for its partner companies.
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