Hwaseong Industry to Release 73.8 Billion KRW in Construction Payments Early for Chuseok... Consideration for 321 Partner Companies

Hwaseong Industrial Co., Ltd. (Chairman of the Board Lee Jong-won) announced on the 25th that it will make an early payment of 73.8 billion KRW in construction payments to its partner companies in celebration of the Chuseok holiday.

This measure is intended to assist partner companies that have recently been experiencing difficulties in their business activities due to the regional economic downturn and recession, and to consider the temporary increase in cash needs such as salaries and bonuses during the holiday season.

Hwaseong Industrial Headquarters

As a result of this measure, a total of 321 companies across 15 sites will receive the full amount of 73.8 billion KRW in subcontract payments approximately 30 days earlier than usual, paid entirely in cash.

Every year during the holidays, Hwaseong Industrial supports small and medium-sized partner companies and local farmers and fishermen by not only making early payments of construction fees for coexistence with the local community but also contributing a total of 3 billion KRW to the large, medium, and small enterprise coexistence cooperation fund and 1.2 billion KRW to the rural coexistence cooperation fund. In addition, it continuously supports these companies in areas such as quality, safety, environmental improvement, productivity enhancement, technology promotion, management support, safety management, and disaster prevention.

Park Sung-kyu, head of Hwaseong Industrial’s Strategic Management Team, said, “Hwaseong Industrial will strive to grow together based on a partnership with local partner companies and will make greater efforts for regional development and growth.”

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