Hanil Cement to Advance Payments to Partners Before Lunar New Year... "Hope It Provides Real Support"
Hanil Cement to Pay 43 Billion KRW and Hanil Hyundai Cement 17 Billion KRW
Payments to About 500 Partner Companies... Scheduled for the 20th
Hanil Cement announced on the 13th that it will make early payments of transaction funds to its partners ahead of the Lunar New Year holiday.
This is to help partner companies secure liquidity and stabilize management as their demand for funds increases around the holiday season.
The payment amount is approximately 43 billion KRW for Hanil Cement and about 17 billion KRW for Hanil Hyundai Cement, totaling 60 billion KRW. The payment targets are about 500 partner companies. The payment date is set for the 20th, moved up by up to two weeks from the original schedule.
Jeon Geun-sik, CEO of Hanil Cement, said, “We are making early payments to provide practical support to partner companies facing financial difficulties due to the construction market downturn and high exchange rates. We will continue to strive for mutual growth with our partners.”
Hot Picks Today
"Only Two Per Person" Garbage Bag Crisis Was Just Yesterday... Japan Also Faces Shortage Anxiety
- "Samsung Electronics Employee with 100 Million Won Salary Receiving 600 Million Won Bonus... Estimated Tax Revealed"
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- 'Will Demand Finally Decline Due to High Prices?'... "I'll Just Enjoy Nearby Trips" as Japan and China See a Surge
- "Wore It Once, Then This? White Spots All Over 4.15 Million Won Prada Jacket... 'Full Refund Ordered'"
Since 2014, Hanil Cement has been operating a win-win cooperation fund worth 11 billion KRW to enable partners to borrow funds at low interest rates. It also implements a ‘fuel price linkage system’ that adjusts contract payments according to fluctuations in oil prices.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
