Ottogi to Advance Payment of 12.6 Billion KRW in Subcontracting Fees to Partners Ahead of Chuseok

Full Cash Payment to 32 OEMs and Packaging Companies
Supporting Smooth Fund Management

Ottogi announced on the 14th that it has early paid 12.6 billion KRW in subcontract payments in cash to help its partners manage their funds smoothly ahead of Chuseok.

Ottogi CI

This is about 50 days earlier on average than the normal payment date. The recipients include 32 companies such as Original Equipment Manufacturers (OEMs), raw material suppliers, and packaging companies.

Ottogi is improving key issues related to mutual growth through an internal review committee led by the ESG (Environment, Social, Governance) promotion team to foster coexistence with its partners. Since 2015, it has also established a mutual growth fund to support partners and dealerships in obtaining loans at interest rates lower than market rates to sustain their business activities.

An Ottogi representative said, "In the current economic downturn, small and medium-sized partners are facing increased financial burdens," and added, "We hope that the early payment of subcontract fees will help alleviate their financial difficulties."

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