KT to Advance Payment of 137 Billion KRW to Partners Ahead of Chuseok

KT announced on the 12th that it will make early payments of partner company delivery fees totaling 137 billion KRW together with nine group companies including KT Alpha, KT Commerce, KT Studio Genie, Smartro, KT DS, VP, KT Engineering, Initech, and KT is.

KT expects that this early payment will alleviate the financial burden of small and medium-sized partner companies facing increased cash demand ahead of the Chuseok holiday.

KT Building Exterior
Photo by KT

So far, KT has made advance payments of delivery fees to partner companies ahead of holidays such as Seollal and Chuseok. Last Chuseok, KT and KT group companies made early payments totaling 124.9 billion KRW, and this Seollal, a total of 99.5 billion KRW was paid early.

In addition, KT is implementing the ‘2023 Chuseok Holiday Clean KT Campaign’ to strengthen ethical management practices. This campaign prohibits exchanging gifts with stakeholders such as partner companies, meaning stakeholders including partner companies cannot provide gifts to KT employees. If gifts are inevitably delivered to employees, a refusal letter will be enclosed and the gifts will be returned to the sender.

Cho Hoon, Executive Director of KT SCM Strategy Office, said, “We decided to proceed with early payments to help resolve the financial difficulties of partner companies and stabilize their management ahead of the Chuseok holiday,” adding, “KT will continue to strive for practical win-win cooperation to resolve partner companies’ difficulties and support sustainable growth.”

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