Business Circles Make Early Delivery Payments of 8 Trillion Won to Partners... "Mutually Beneficial Management" Ahead of Lunar New Year

Easing Financial Burdens on Partner Companies Before the Holiday
Combining Community Contribution Activities with Financial and Welfare Support for Partners

It was confirmed on the 13th that major conglomerates have moved to promote mutually beneficial cooperation ahead of the Lunar New Year holiday by making early payments of delivery settlements to their partner companies.

Earlier, the Federation of Korean Industries (hereinafter FKI) and the FKI Center for Small and Medium-sized Enterprises (hereinafter FKI SME Center) conducted a survey titled "Survey on Early Payment of Subcontract and Delivery Settlements Before Lunar New Year 2026" from January 28 to February 10, targeting the top 30 business groups (as of last May, based on designated public disclosure business groups), excluding NongHyup, Mirae Asset (financial group), and Booyoung (no listed affiliates).

Yonhap News Agency

As a result, it was tallied that 19 major groups that responded to the survey made early payments of delivery settlements totaling 8.1 trillion won ahead of the Lunar New Year holiday. These 19 groups are Samsung, SK, Hyundai Motor, LG, Lotte, POSCO, Hanwha, HD Hyundai, GS, Shinsegae, Hanjin, KT, CJ, LS, Kakao, Doosan, Naver, Harim, and Hyosung.

This year, the early payments were generally made about one to two weeks before the Lunar New Year holiday. The FKI SME Center assessed, "The Lunar New Year holiday is a period when partner companies experience a temporary increase in financial burdens due to transaction gaps and adjustments in financial schedules," adding, "Early payment of delivery settlements by large corporations will provide substantial help in stabilizing management by securing the capacity of partner companies to pay wages and raw material costs."

In addition, major conglomerates are implementing various mutually beneficial programs for contributing to local communities, as well as financial and welfare support for partner companies, timed to the Lunar New Year holiday. Representative initiatives include corporate social responsibility activities for vulnerable groups and small businesses, in which employees directly participate.

For example, Samsung is supporting the sale of local specialty products and products from small and medium-sized enterprises that have received smart factory support by operating an employee-participation online mutual growth marketplace for the Lunar New Year holiday, thereby helping to expand sales channels for small and medium-sized enterprises and revitalize local economies.

SK is using funds raised through employee-participation ESG activities to support vulnerable groups and is carrying out sharing activities such as delivering holiday goods mainly in areas near its business sites.

Hyundai Motor Group is supporting vulnerable groups through group-wide volunteer work and donations, while also engaging in various community contribution activities such as providing traditional market gift certificates, serving meals, and supplying food ingredients to free meal centers.

LG is supporting the management stability and competitiveness enhancement of partner companies through financial and technological support programs, including low-interest and interest-free loans and support for facilities and technology infrastructure. It is also promoting holiday sharing activities for vulnerable groups mainly in areas around its business sites.

Lotte is continuing community care activities by providing holiday gifts to employees of partner companies and delivering holiday goods to elderly people living alone and vulnerable households through employee volunteer work.

POSCO and HD Hyundai are practicing coexistence with local communities by delivering holiday goods and consolation gifts to welfare facilities and vulnerable households mainly in regions where their business sites are located, and by encouraging the use of traditional markets and conducting locally connected volunteer activities.

Hanwha and Harim are carrying out community-based sharing activities centered on their affiliates and business sites, such as delivering daily necessities and food items to local senior citizens and marginalized groups.

GS, Shinsegae, Hanjin, CJ, and Naver are supporting the welfare of employees of partner companies by providing holiday gifts and gift certificates and operating welfare malls, while also conducting community sharing activities such as donating goods to vulnerable groups.

KT is providing financial support to partner companies using mutual growth cooperation funds and is conducting nationwide employee-participation volunteer activities, including serving special meals at senior welfare centers. Hyosung is carrying out community sharing activities such as donations to support children with cancer, delivering blood donation certificates from employees, and providing daily necessities to vulnerable groups.

Choo Kwangho, head of the FKI SME Center, said, "Early payment of delivery settlements by large corporations goes beyond a simple customary practice and is part of mutually beneficial measures for shared growth with partner companies," adding, "We hope that the efforts of large corporations will help ease the funding difficulties of partner companies and lead to a broader recovery trend in the livelihood economy."

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