Hanwha Group to Make Early Payments of 179.0 Billion Won to Partner Companies Ahead of Lunar New Year

Affiliates Including Hanwha Aerospace and Hanwha Ocean Join Initiative
Early Payments Continue This Year Following 170.0 Billion Won Disbursed Last Lunar New Year

Hanwha Group will make early payments totaling approximately 179.0 billion won to its partner companies ahead of the Lunar New Year holiday. This measure is intended to ease the burden of cash management for partners and support their smooth business operations.

Hanwha Group headquarters building. Photo provided by Hanwha.

By affiliate, the payment amounts are 74.5 billion won for Hanwha Aerospace, 55.3 billion won for Hanwha Ocean, and 11.7 billion won for Hanwha Construction Division. Other major affiliates will also participate by paying partner companies earlier than originally scheduled.

Hanwha Group has been making early payments to partner companies ahead of the Lunar New Year and Chuseok holidays every year. For last year's Lunar New Year holiday as well, it made early payments of around 170.0 billion won to its partner companies.

Partner companies often face increased financial pressure before holidays due to performance bonus payments and the need to disburse funds to their secondary and tertiary partner companies. Hanwha Group's early payments this time are expected to alleviate the financial burden on partners and, through mutually beneficial cooperation with them, contribute to a virtuous cycle in the overall economy.

In his New Year's address this year, Chairman Kim Seungyeon stated, "Employees of our partner companies are also members of the Hanwha family, and the local communities are the very foundation of Hanwha's business," adding, "If you want to go far, you must go together." His remarks are seen as emphasizing Hanwha Group's win-win management philosophy of "Going Further Together."

Meanwhile, major affiliates of Hanwha Group are also carrying out sharing activities for local communities to mark the Lunar New Year holiday. Hanwha Aerospace plans to deliver rice and daily necessities to senior citizens and marginalized groups in the communities around its business sites in Changwon, Yeosu, Boeun, and other locations.

Hanwha Ocean and Hanwha Solutions also plan to hold holiday food-sharing events and environmental cleanup activities at their business sites in Geoje, Ulsan, and Yeosu, with participation from local residents, client company employees, and their families.

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