KT&G Advances Payment of 100 Billion KRW to Partners Ahead of Chuseok

A Total of 49 Locations Worth 103.1 Billion KRW... "Strengthening Win-Win Management"

KT&G announced on the 4th that it will implement early cash payments of settlement funds to reduce the burden on small and medium-sized partner companies and strengthen win-win management ahead of the Chuseok holiday.

KT&G plans to pay a total of 103.1 billion KRW in settlement funds to 49 partner companies supplying raw and subsidiary materials and consumables, advancing the payment by an average of more than one month earlier than the normal payment date.

Every year before holidays such as Seol and Chuseok, KT&G has been executing early payments of settlement funds to ease the financial burden on small and medium-sized partner companies that face increased cash demand. During the last Seol holiday, KT&G also supported partner companies' cash liquidity by prepaying settlement funds worth 66.4 billion KRW.

Additionally, KT&G has been participating in the ‘Delivery Price Linkage System Partner Company’ since November last year, which reflects the increase in raw material prices in delivery payments to reduce the burden on small and medium-sized partner companies. Besides this, KT&G operates various support programs for mutual growth, such as paying delivery funds in full cash every month to help resolve partner companies' financial difficulties.

A KT&G official stated, “We decided to make early payments of settlement funds to alleviate the management burden of partner companies during the holiday period when cash demand is high,” adding, “We will continue to take the lead in realizing the value of coexistence by growing together with partner companies through various support activities that provide practical help.”

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