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KT&G, Early Cash Payment for Settlement Amounts to Partner Companies in Line with Lunar New Year 2024.01.25
KT&G (CEO: Baek Bok-in) is implementing early cash payments of settlement amounts to small and medium-sized partner companies to alleviate their burdens and strengthen cooperative management ahead of the Lunar New Year.

Among the partner companies that supply raw materials, components, and consumables, KT&G is expediting the payment of a total of KRW 664 billion to 41 companies, more than a month earlier than the regular payment date.

To ease the financial burden on small and medium-sized partner companies, which face increased capital demands before major holidays such as Lunar New Year and Chuseok each year, KT&G has been executing early payments of settlement amounts. Last Chuseok, they made advance payments totaling KRW 917 billion to support the liquidity of partner companies.

Furthermore, KT&G is actively participating in the "Settlement Amount Linked Company" program, which reflects the increase in raw material prices in supplier payments, reducing the burden on small and medium-sized partner companies. This initiative aims to establish a cooperative trading culture and lead the way in the development of a fair market economy.

In addition to these efforts, KT&G is operating various support systems for mutual growth, such as monthly full cash payments of settlement amounts to alleviate financial difficulties for partner companies.

A KT&G reprentative stated, "Amidst ongoing global inflation and interest rate hikes, we decided to expedite the payment of settlement amounts to partner companies facing high capital demand ahead of the Lunar New Year," adding, "We will continue to explore various support measures to realize the values of mutual growth with partners and enhance sustainability across the entire value chain."

(Photo Caption) KT&G (CEO: Baek Bok-in) is gearing up for the Lunar New Year by advancing settlement payments to partner companies, reinforcing cooperation. The photo features the KT&G logo image.
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