KT&G Provides Early Cash Payment to Partners Ahead of the Lunar New Year Holiday
KT&G Provides Early Cash Payment to Partners
Ahead of the Lunar New Year Holiday
KT&G (CEO Bang Kyung-man) announced that it has implemented early cash payments to its partner companies ahead of the Lunar New Year holiday to help ease financial burdens on SMEs and strengthen its shared growth initiatives.
KT&G will disburse a total of KRW 39.3 billion to 46 partner companies supplying raw and auxiliary materials, approximately one month ahead of the original payment schedule.
Each year, the company advances payments ahead of major holidays, such as Lunar New Year and Chuseok, to help alleviate financial pressure on SME partners during periods of increased funding demand. Last year, KT&G also supported its partners’ liquidity by prepaying a total of KRW 163.6 billion.
In addition, KT&G participates in an initiative led by the Ministry of SMEs and Startups, which links supply payments to changes in raw material costs, ensuring fair pricing and supporting SME partners. The company also operates various mutual growth support programs, including paying the full amount of supply payments in cash monthly to help alleviate financial difficulties faced by partner companies.
A KT&G official stated, “We decided to provide early settlement payments to help ease the financial burden on our partner companies during the holiday season, when funding demand is high. We will continue to take the lead in fostering shared growth with our SME partners through various support initiatives.”