Hanil Cement to Pay KRW 42 Billion to Partner Companies Early Ahead of Chuseok

[Financial News] Hanil Cement will pay KRW 42 billion in outstanding payments to partner companies early ahead of the Chuseok holiday.
Hanil Cement said on the 14th that it will pay approximately 500 partner companies on the 21st, up to two weeks earlier than originally scheduled.
The measure is intended to help partner companies secure liquidity as their funding needs increase ahead of the holiday.
Hanil Cement also operates a KRW 11 billion Mutual Cooperation Fund to provide partner companies with access to low-interest loans, as well as an oil-price-linked payment system that adjusts contract payments when oil prices fluctuate.
Jeon Geun-sik, president of Hanil Cement, said, "Although the construction industry downturn continues, efforts toward mutual growth become even more important when business conditions are difficult. We will build sustainable partnerships through practical support, including early payment of outstanding transactions."
[email protected] Kim Hyeon-cheol Reporter