Hoban Group said on the 30th that, ahead of the upcoming Chuseok, it will make early payment of 117.8 billion won in transaction proceeds to partner companies.
Hoban Group's construction affiliates, including Hoban Construction and Hoban Industry, will move up to Oct. 1 the full cash payment of transaction proceeds that had been scheduled for the 10th of next month to partner companies. Taihan Cable & Solution has also completed early payment of transaction proceeds to partner companies.
Hoban Group has been making early payments during holidays and other periods when partner companies' funding needs are concentrated. This measure also aims to help partner companies manage their funds smoothly ahead of Chuseok.
With corporations facing a difficult business environment due to the recent economic downturn, high interest rates, and rising raw material prices, the early payment is expected to help stabilize partner companies' business operations.
A Hoban Group official said, "We hope that the early payment of transaction proceeds for Chuseok will ease operating burdens for partner companies and help them sustain stable growth," adding, "Hoban Group will continue to strengthen the foundation for growing together with partner companies."