Aekyung Industrial to Pay KRW 12.5 Billion in Supplier Payments Early Ahead of Chuseok

[Financial News] Aekyung Industrial will make early payments to its partner companies ahead of the Chuseok holiday.
According to Aekyung Industrial on the 21st, the company will pay KRW 12.5 billion in payments for delivered goods to 50 partner companies in cash, up to seven days ahead of the scheduled payment date. The measure is intended to help suppliers secure cash liquidity and ease their financial burden ahead of the holiday.
Aekyung Industrial has been making early payments to partner companies since the Lunar New Year holiday in 2022. Including this year's Chuseok holiday, the cumulative amount of early payments has reached KRW 94.3 billion.
The company is also continuing its support for partner companies through measures such as proposals for managing workplace accident rates among suppliers, efforts to improve supply chain sustainability, safety and health training, grievance-handling channels, and a performance-sharing program to promote shared growth.
An Aekyung Industrial representative said, "We hope this early payment will provide practical support for our partner companies' cash management ahead of the Chuseok holiday," adding, "We will continue to foster a supply ecosystem based on mutual growth with our partner companies and pursue sustainable shared growth."
[email protected] Kang Myeong-yeon Reporter