Aekyung Industrial Advances Payment of 13 Billion KRW to Partners Ahead of Chuseok
[Asia Economy Reporter Moon Hyewon] Aekyung Industrial announced on the 2nd that it has paid in full, in cash, early settlement of trade payments amounting to 13 billion KRW to about 60 partner companies supplying raw materials, containers, and products in celebration of the Chuseok holiday.
An Aekyung Industrial official said, "Amid the ongoing COVID-19 situation and the simultaneous rise in interest rates, prices, exchange rates, and oil prices, we decided to make early payments to help alleviate the financial difficulties faced by many partner companies," adding, "We hope that by making early payments during the Chuseok holiday, when demand for funds increases, it will help reduce the financial burden on our partners."
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Aekyung Industrial plans to continue early settlement of trade payments to partner companies during holidays starting with this Chuseok. In addition, Aekyung Industrial is carrying out various collaborations such as productivity improvement, cost reduction, and technical support to promote win-win cooperation with its partners.
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