Lotte Department Store Advances Payment of 360 Billion KRW... Launches Chuseok Win-Win Program

Operating Coffee Truck to Deliver Noted Donuts
Expanding Support for Partner Companies' ESG Management Activities

Lotte Department Store is advancing the payment date for partner companies' sales proceeds worth 360 billion KRW in celebration of Chuseok. In addition, they explained that various win-win programs with partner companies have been planned.

On the 29th, Lotte Department Store announced that the payment date for partner companies' sales proceeds will be moved up by 5 days, from the end of September to September 22. They will make early payments of sales proceeds worth 360 billion KRW to a total of about 3,800 partner companies to ease the financial management burden of partners during the holiday season. Considering the management environment such as Chuseok bonuses, high interest rates, and high exchange rates, the target and scale of sales proceeds payments have also been expanded by 20% compared to last year's Chuseok.

A coffee truck delivering messages of support will also be operated. For two weeks until October 8, they will visit about 150 partner companies nationwide, including Seoul and Cheonan, providing free snacks to about 14,000 employees. This year, the number of partner companies targeted has increased by about 50% compared to last year, including partners who support parking and safety. They also plan to provide Noted signature coffee and donuts in collaboration with the popular bakery brand Noted. For partner company employees participating in the snack event, souvenir giveaways and social networking service (SNS) events will be prepared as enjoyable experiential activities.

Employees of partner companies are receiving snacks at the coffee truck prepared by Lotte Department Store.
[Photo by Lotte Department Store]

Support for partner companies' ESG (Environmental, Social, and Governance) management activities will also be expanded. The 'ESG Management Support Program,' operated since 2021 for small and medium-sized enterprises in cooperation with the Win-Win Growth Committee, is an education and consulting system that helps SMEs with limited investment capacity to smoothly implement ESG management. In the first year, 4 partner companies, and this year, 9 partner companies have obtained ESG excellent SME certification. Certified companies are familiarized with the information and regulations necessary for ESG management and receive preferential interest rate benefits from the Win-Win Growth Fund provided by Lotte Department Store and commercial banks. In September, partner companies will be selected again to provide ESG consulting programs until the first half of next year.

Jung Jun-ho, CEO of Lotte Department Store, said, "Lotte Department Store focuses on practical benefits that can grow together with partner companies, not one-time support," and added, "We will continue to seek various ways to achieve sustainable growth together with our partner companies."

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