HS Hwasung to Pay Approximately KRW 28 Billion in Construction Costs and Other Payments to Partner Companies

【Financial News Daegu=Kim Jang-wook】 HS Hwasung will pay construction costs early to ease its partner companies’ financial burdens ahead of the Chuseok holiday.
The payment is part of the company’s mutually beneficial management efforts to ease the operational burdens of partner companies facing increased demand for funds before the holiday and to overcome the prolonged construction downturn and domestic and international uncertainties together.
In particular, HS Hwasung has consistently strengthened its partnerships with partner companies by making early payments for construction costs twice a year, before Seollal and Chuseok.
Park Taek-hyun, head of the Outsourcing and Procurement Team, emphasized, "I hope this early payment will help our partner companies prepare for the holiday," adding, "We will continue our mutually beneficial management efforts as a reliable partner."
To this end, HS Hwasung plans to pay approximately KRW 28 billion in construction and material-delivery costs in full and in cash to approximately 216 partner companies before the Chuseok holiday.
Previously, the company contributed KRW 2 billion in 2018 and KRW 500 million each in 2020 and 2021, for a total of KRW 3 billion, to a large-small business cooperation fund. The fund is being used to strengthen the quality-management capabilities of local partner companies, improve safety facilities, invest in eco-friendly equipment, and upgrade infrastructure.

[email protected] Kim Jang-wook Reporter