Taekwang Industrial to Advance Payment for Partner Companies' Goods Before Lunar New Year Holiday

[Asia Economy Reporter Hwang Yoon-joo] Taekwang Industrial will make an early payment of approximately 24 billion KRW in goods payments to its partner companies ahead of the Lunar New Year holiday to promote mutual growth.

This early payment of goods payments is a decision to alleviate the financial burden on small and medium-sized partner companies, whose cash needs intensify before the Lunar New Year holiday. The early payment will be made collectively on the 25th, three days earlier than the scheduled payment date of the 28th, to about 370 partner companies.

As part of mutual cooperation and co-prosperity with its partner companies, Taekwang Industrial has consistently implemented early payment of goods payments before holidays since the Chuseok holiday in 2020. A company official stated, "We will do our best to achieve co-prosperity and mutual growth with our partner companies who work together to strengthen the company's competitiveness."

Meanwhile, Taekwang Industrial has continued efforts to share the difficulties of small business owners and SMEs beyond its partner companies. Recently, until the end of last year, the company conducted a ‘Good Rent Movement’ that reduced 30% of the rent within a limit of 2 million KRW per month for small business owners and SMEs operating in the company’s buildings.

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