HS Hwaseong to Make Early Cash Payment of 24 Billion Won in Construction Costs Ahead of Lunar New Year

For Around 170 Partner Companies
Reaffirming Commitment to Shared Growth and Co‑prosperity

HS Hwaseong announced on the 4th that, in celebration of the Lunar New Year holidays, it will make early payment of the full construction costs of 24 billion won in cash to about 170 partner companies.

Lee Jongwon, Chairman and CEO of HS Hwaseong.

This is part of its shared-growth management to ease the holiday-related financial burden on partner companies and to put into practice the value of growing together.

HS Hwaseong has been steadily strengthening its partnerships with partner companies by bringing forward construction payments twice a year, for Lunar New Year and Chuseok. The company expects that, by easing the burden on cash flow such as paying workers' wages and settling raw material costs before the holidays, it will help establish a virtuous cycle that allows partners to focus on their business activities.

The company is also contributing to a win-win cooperation fund for large and small companies to help strengthen the competitiveness of its partner firms. It has contributed a total of 3 billion won, including 2 billion won in 2018, 500 million won in 2020, and 500 million won in 2021. The funds are being used for quality control, safety facility improvements, eco-friendly facility investments, and infrastructure upgrades for local partner companies.

In addition, to support the sustainable development of farming and fishing communities, the company has contributed a total of 1.2 billion won to the Agricultural and Fishing Village Win-Win Cooperation Fund: 500 million won each in 2019 and 2021, and 200 million won in 2022. The funds are used to support the distribution of agricultural products produced by local farmers and fishers and the operation of social welfare facilities, thereby helping to support local rural and fishing communities.

Park Taekhyun, head of the Outsourcing and Purchasing Team, said, "We hope that this round of payments will help not only partner companies preparing for the holidays but also the revitalization of the local economy," adding, "We will continue to pursue sustainable shared-growth management through partnerships that grow together with our partner companies."

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