Amorepacific Group to Advance Payment of 58 Billion KRW to Partners Ahead of Chuseok

[Asia Economy Reporter Moon Hyewon] Amorepacific Group announced on the 1st that it will advance the payment of 58 billion KRW in transaction funds to its partners ahead of the Chuseok holiday.

The payment targets are approximately 450 partner companies supplying raw materials, containers, and products to nine affiliates of Amorepacific Group. The transaction funds amounting to 58 billion KRW, originally scheduled to be paid by the 12th of this month, will be paid sequentially in advance on the 2nd.

Kim Seunghwan, CEO of Amorepacific Group, stated, “To alleviate the burden on partner companies experiencing financial difficulties due to increased cash demand ahead of the Chuseok holiday, we will pay delivery funds up to 10 days earlier than the scheduled payment date,” adding, “We will continue to pursue mutual growth with our partners through various measures.”

Since the mid-2000s, Amorepacific Group has been advancing transaction payments before the start of holiday breaks to help partner companies manage their cash flow smoothly.

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