LG Uplus Pays Early Delivery Fees to Small and Medium Partners for Chuseok

[Asia Economy Reporter Eunmo Koo] LG Uplus announced on the 16th that it will pay 30 billion KRW in delivery payments 100% in cash ahead of schedule to help about 2,000 small and medium-sized partner companies secure stable cash liquidity for Chuseok.

This early payment fund will be provided to partners responsible for delivering wireless repeaters and wired network equipment, network construction, IT development, and operations. Partner companies that secure payments early plan to use them for new product production, facility investment, and research and development costs.

In addition, LG Uplus plans to provide 8 billion KRW in short-term loans to nationwide agencies to support distribution networks facing cash liquidity difficulties ahead of the Chuseok holiday.

LG Uplus also operates a ‘Win-Win Growth Fund’ in cooperation with IBK Industrial Bank, which lends funds at low interest rates to support cash liquidity for small and medium-sized partners, as well as programs that directly support partner companies’ new product development funds.

Jongseop Kim, head of Win-Win Growth and Purchasing at LG Uplus, said, “We expect that early payment of funds ahead of the holiday will secure liquidity for our partners,” and added, “As a top company in the Win-Win Growth Index, we will continue to achieve mutual growth and coexistence with our partners.”

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