Amorepacific Group said on the 25th that it will make early payments of transaction proceeds totaling 76.7 billion won to its partners ahead of the Chuseok holiday.
The recipients are about 600 partners that supply raw and subsidiary materials, containers, and products to nine affiliates of Amorepacific Group. Transaction proceeds totaling 76.7 billion won, which were scheduled to be paid by Oct. 9, will be paid in stages starting Sept. 25.
Chief Executive Officer Lee Sang-mok of Amorepacific Holdings said, "With the upcoming Chuseok holiday, we will pay delivery proceeds to partner companies up to 14 days earlier than the scheduled payment date," and added, "We will continue activities to promote mutual growth with our partners."
Amorepacific Group has been making early payments of transaction proceeds before the start of holiday periods since the mid-2000s to help partners manage their funds smoothly.