Hanwha Group Advances Payment of 175 Billion KRW to Over 2,600 Partner Companies

Hanwha Group headquarters building exterior. Photo by Hanwha

Major affiliates of Hanwha Group will advance approximately 175 billion KRW in payments to their partners in cash ahead of Chuseok and hold sharing events for the holiday.

As part of efforts to ease the financial burden on partners before the holiday, Hanwha Group's major affiliates have been making early payments during Lunar New Year and Chuseok holidays. From the partners' perspective, demand for operating funds such as raw material payments temporarily increases before the holidays, so the scheduled funds are disbursed early in cash to assist partners in managing their finances.

By affiliate, Hanwha Corporation will pay 22.5 billion KRW, Hanwha Solutions 22.5 billion KRW, Hanwha Aerospace 43 billion KRW, Hanwha Systems 6.9 billion KRW, and Hanwha Ocean 45 billion KRW, totaling approximately 175 billion KRW, in cash earlier than usual.

Additionally, Hanwha Group's major affiliates plan to purchase local specialties and present them as holiday gifts to in-house resident partner companies, contract workers, and key customers. The total amount spent on purchasing local specialties alone reaches 5.1 billion KRW, which is expected to significantly contribute to revitalizing the local economy.

Furthermore, Hanwha Group affiliates will simultaneously conduct sharing activities for local communities nationwide. Through community welfare centers and volunteer centers, they will deliver holiday support items (food, lunch boxes, healing products, etc.) to underprivileged groups such as basic livelihood security recipients.

Employees of four companies based in Pangyo?Hanwha Aerospace, Hanwha Vision, Hanwha Precision Machinery, and Vision Next?held the “Hanwha’s Love-filled Chuseok Hope Sharing” event on the 20th in cooperation with the Seongnam Volunteer Center.

Hanwha Solutions’ Chemical Division plants in Ulsan and Yeosu delivered goods worth 20 million KRW and Onnuri gift certificates to local administrative welfare centers, the Regional Children’s Center Association, and the Family Plus Center on the 12th of this month.

Galleria Department Store supports the premium branding and sales activation of local products through the nationwide excellent agricultural and marine products sales programs Areumdri and Beyond Farm stores. Additionally, it holds joint buyer product evaluations in the distribution sector with five department stores linked to the Korea Federation of SMEs to support market access such as reviewing the entry of small merchants.

Hanwha Group Chairman Kim Seung-yeon emphasized in this year’s New Year’s address, “As this is a time when shadows grow deeper, let us actively fulfill the corporate responsibility to raise the temperature of our society.”

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