LG Uplus Provides Early Payment of Delivery Fees to Small and Medium Partners

Early Cash Payment of 30 Billion KRW to Over 2,000 Small and Medium Partner Companies for Lunar New Year
IBK Industrial Bank Linked, Operating ‘Win-Win Growth Fund’ Providing Low-Interest Loans to Small and Medium Partner Companies

[Asia Economy Reporter Koo Eun-mo] LG Uplus announced on the 23rd 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 the upcoming Lunar New Year.

Since 2014, LG Uplus has promoted mutual growth with partner companies by making early payments of delivery fees before the Chuseok and Lunar New Year holidays. The cumulative amount of early payments made over the past seven years has reached 300 billion KRW.

This early payment fund will be paid to partner companies responsible for delivering wireless repeaters, wired network equipment, network construction, IT development, and operations. Partner companies will be able to use the early secured funds for new product production, facility investment, research and development costs, and more.

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

LG Uplus also runs comprehensive consulting programs to improve the productivity of small and medium-sized enterprises, the ‘5G Innovation Lab’ supporting new service and device development based on 5G technology, and the ‘Partner Proposal Day,’ which guarantees a certain level of purchase for products adopted after reviewing ideas for communication equipment or solution development proposed by small and medium-sized partners.

Kim Jong-seop, Head of Win-Win Growth and Purchasing at LG Uplus, said, “We expect that early payment of funds ahead of the holiday will secure the liquidity of our partner companies,” adding, “As a top company in the Win-Win Growth Index, we will continue to achieve mutual growth and co-prosperity with our partners.”

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