IPARK HYUNDAI DEVELOPMENT COMPANY Makes Early Payments to Partner Companies Ahead of Chuseok

[Financial News] IPARK HYUNDAI DEVELOPMENT COMPANY, an affiliate of HDC Group, made early payments to partner companies ahead of the Chuseok holiday to strengthen mutual cooperation.
According to IPARK HYUNDAI DEVELOPMENT COMPANY on the 21st, the company paid a total of KRW 5.3 billion to 21 partner companies, 17 days earlier than the scheduled payment date.
The early payments were made in consideration of the fact that the period before the holiday is when partner companies face concentrated cash outflows. Receiving the full amount in cash ahead of schedule allows them greater flexibility in managing their funds.
An IPARK HYUNDAI DEVELOPMENT COMPANY official said, "Going forward, we will continue to support partner companies in various areas, including Shared Growth Campus, Shared Growth Fund and i-ONE JOB, as well as through financial assistance, and strengthen mutual cooperation."
IPARK HYUNDAI DEVELOPMENT COMPANY operates a partner-company registration system to build trust with its partners and establish a stable supply chain. It continues to provide support in various areas, including education, finance, technology, management and recruitment.
By the end of the year, the company plans to provide financial support through the Shared Growth Fund, interest-free loans and advance payments. It also operates a free online education platform called Shared Growth Campus, technology data escrow, consulting on establishing ESG and safety management systems, the i-ONE JOB online recruitment center operated with Industrial Bank of Korea, reductions in contract performance guarantee rates and stamp tax support on an ongoing basis. Through these initiatives, it plans to further strengthen mutual cooperation with partner companies.

[email protected] Choi A-young Reporter