Hanwha Group to Advance Payment of 85 Billion KRW to Partners Before Chuseok

Galleria Department Store Supports the Development of Local Excellent Agricultural and Marine Products

[Asia Economy Reporter Hwang Yoon-joo] Major affiliates of Hanwha Group will make early payments to their partner companies ahead of the Chuseok holiday to ease their cash flow burdens.

Hanwha Group announced on the 13th that it will make early cash payments totaling 85 billion KRW to about 1,500 partner companies before Chuseok.

By affiliate, Hanwha Corporation will pay 19.3 billion KRW, Hanwha Solutions 19.2 billion KRW, Hanwha Systems 16.1 billion KRW, Hanwha Defense 10.7 billion KRW, and Hanwha Aerospace 5.6 billion KRW, advancing payments by up to 55 days compared to usual.

In addition, major affiliates will also carry out sharing activities to support local communities that are struggling more due to COVID-19. Through welfare centers and volunteer centers, they will provide holiday support items (such as food and lunch boxes) to underprivileged groups including basic livelihood security recipients.

Earlier, Hanwha Aerospace, Techwin, Precision Machinery, and Seongnam Volunteer Center held a Love Chuseok Hope Sharing event. Hanwha Aerospace CEO Shin Hyun-woo and employees participated in packaging and delivering 500 daily necessities kits to elderly living alone in the Seongnam area.

From the 13th to the 17th, Hanwha Solutions and the Green Umbrella Children’s Foundation will deliver holiday meals to 100 grandparent-headed households in the Seoul area.

Hanwha General Insurance plans to produce and deliver 160 lucky bags to basic livelihood security recipients and disabled households, while Hanwha Defense’s Changwon plant plans to deliver 10kg of rice each to 500 local households. Hanwha Total will supply sets of agricultural products from the Seosan area free of charge to the cafeterias of 25 domestic clients. Face-to-face volunteer activities for local residents, which were held annually during holidays, will be refrained from due to COVID-19.

Meanwhile, Galleria Department Store operates Areumdri stores within Galleria Centercity, Timeworld, and Gwanggyo department stores to support and foster the premiumization of local agricultural and marine products. This is part of Galleria Department Store’s representative regional community win-win activities, which have been carried out since 2015 to promote the sales of excellent processed agricultural and marine products nationwide.

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