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🇰🇷 South Korea /Economy & Trade

Daesang pays 40 billion won early to small and midsize partner companies ahead of Chuseok

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Outcome reported
  • Daesang advanced 40 billion won in payments to 243 small and midsize partner companies ahead of Chuseok.
  • The companies received payment 30 days earlier than originally scheduled to ease their funding needs before the holiday.
  • Daesang CEO Lim Jung-bae said the company would continue cooperation based on respect and mutual growth.

Daesang has brought forward 40 billion won in payments to small and midsize partner companies ahead of the Chuseok holiday. The company said on Sept. 7 that the measure would support partners facing greater demand for funds before the holiday period.

A total of 243 partner companies received their payments 30 days earlier than originally scheduled. Daesang said the early payments were intended to reduce the financial burden on companies managing increased holiday-related cash needs.

We decided to make the early payments to provide practical help to our partner companies ahead of Chuseok.

· Lim Jung-baeThe Daesang CEO explained why the company advanced payments before the holiday.

“We decided to make the early payments to provide practical help to our partner companies ahead of Chuseok,” Daesang CEO Lim Jung-bae said. “We will continue pursuing mutually beneficial cooperation and grow together with our partners, based on respect, one of the group’s core values.”

We will continue pursuing mutually beneficial cooperation and grow together with our partners, based on respect, one of the group’s core values.

· Lim Jung-baeThe CEO described Daesang’s approach to cooperation with its partner companies.
About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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