20 Major Corporations to Advance KRW 9.6 Trillion in Partner Payments Ahead of Chuseok

Major conglomerates, including Samsung, SK, and Hyundai Motor, have decided to advance the payment of KRW 9.6 trillion in supply payments to their partner companies ahead of the Chuseok holiday.

The Federation of Korean Industries (FKI) and the FKI SME Cooperation Center announced the findings today (September 16) following a survey on the "2026 Survey on Early Payment of Subcontract and Supply Payments Ahead of Chuseok" targeting major corporate groups.

Samsung stated that 13 of its affiliates, including Samsung Electronics, will make early payments of KRW 1.3 trillion worth of goods to partner companies before the holiday, while the Hyundai Motor Group announced it will disburse KRW 2.2562 trillion in supply payments up to 23 days earlier than scheduled.

This is expected not only to help partners address short-term capital demands such as paying wages and raw material costs, but also to improve cash flow across the entire supply chain as the effect spreads to secondary and tertiary suppliers.

In addition, major groups are operating customized support programs to help stabilize the financial conditions and promote the welfare of partner company employees.

SK, LG, Lotte, POSCO, HD Hyundai, GS, KT, Doosan, and Hyundai Department Store are easing financial burdens and reinforcing liquidity for partner firms by utilizing win-win settlement systems, shared growth funds, and collaborative cooperation funds.

SK, Hanwha, Lotte, GS, Shinsegae, and Doosan are providing Onnuri gift certificates, holiday gift sets, and vouchers to employees and franchise owners of partner companies, with some groups also offering holiday bonuses or travel allowances.

Social contribution activities are also being carried out to revitalize the local economy and care for underprivileged groups during the holiday season.

Samsung is operating holiday markets to sell products from local farming households and small businesses, while Hyundai Motor is supporting direct transaction markets linked with traditional markets.

POSCO is promoting a campaign for pre-payments at nearby traditional markets to stimulate consumption in neighborhood commercial districts.

Conglomerates are also broadening their scope toward digital sharing that provides practical foundations for self-reliance, such as conducting online shopping and kiosk utilization training for neighbors experiencing the digital divide (Lotte) or providing customized, real-life AI education for local senior citizens (Hanwha).

Furthermore, SK, Hyundai Motor, LG, Hanwha, Lotte, POSCO, HD Hyundai, GS, HANJIN, LS, and CJ plan to visit welfare facilities and local children's centers to deliver holiday essentials and sponsored goods, alongside employee volunteer activities.

Chu Kwang-ho, head of the FKI SME Cooperation Center, said, "This year, support methods are evolving into multi-dimensional forms ranging from simple goods provision to low-interest financial support, welfare benefits, market expansion, and digital capacity building," adding, "We hope these diverse support efforts will spread to secondary and tertiary partners as well as the broader local community, serving as a priming water to inject warmth into a constrained livelihood economy."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.