Taekwang Industrial to Make Early Payment of KRW 18.9 Billion in Chuseok Goods Payments to 270 Partner Companies

[Financial News] Taekwang Industrial, Taekwang Group's textile and petrochemical affiliate, announced on the 17th that it will make early payments totaling approximately KRW 18.9 billion to 270 small and midsize partner companies ahead of the Chuseok holiday.
The early payments are intended to support the partners' smooth cash-flow management and business stability during a period when demand for funds for raw materials, wages and other expenses is concentrated.
The recipients include petrochemical-related partner companies, including textile manufacturers facing financial difficulties amid the recent deterioration in business conditions.
A Taekwang Industrial official said, "We brought forward the payment schedule ahead of Chuseok to provide practical assistance to partner companies whose demand for funds is increasing, as we work with them to overcome the petrochemical industry's structural downturn."

[email protected] Kim Mi-hee Reporter