On Feb. 13, ahead of the Lunar New Year holiday, President Lee Jae-myung publicly expressed gratitude, mentioning major domestic conglomerates that paid suppliers earlier than scheduled. After Lee recently met with the heads of 10 groups and said he hoped "the fruits of growth would be shared more widely," asking for cooperation on shared growth, the business community said it would push to expand youth hiring and regional investment.
Introducing related reports on X (formerly Twitter) the same day, Lee wrote, "I thank the Samsung and LG groups for their efforts to build a mutually beneficial ecosystem in the economy, industry, and corporations." He added, "Only when the grassland is healthy and rabbits live can the tiger also live," and said, "I hope we will join hands to turn this difficult internal and external crisis into an opportunity."
Major corporations are paying suppliers earlier to help partners manage cash flows smoothly ahead of the Lunar New Year holiday. Samsung will have 12 affiliates, including Samsung Electronics and Samsung C&T, pay 730 billion won in supplier invoices before the holiday. Eight LG Group affiliates, including LG Electronics and LG Innotek, will also pay about 600 billion won up to two weeks early. They are also running financial support programs to help partners raise funds by borrowing at low interest rates.
Earlier, on Feb. 4, Lee invited the heads of 10 major corporations, including Samsung Electronics, SK Group, and Hyundai Motor, to Cheong Wa Dae for a meeting and asked them to pursue "youth employment" and "expanded regional investment." In response, the business community said it is planning regional investments of up to 300 trillion won over five years and plans to hire 51,600 new employees this year.