Amorepacific Group said on the 10th that it will make early payments totaling 28 billion won in transaction proceeds to partner companies ahead of the Lunar New Year holiday.
The recipients are about 400 partner companies that supply raw and subsidiary materials, containers, and products to nine affiliates within the group. Transaction proceeds that were originally scheduled to be paid by the 20th of this month will be paid early in stages starting on the 10th.
Lee Sang-mok, CEO of Amorepacific Holdings, said, "To help ease the cash crunch of partner companies facing funding needs ahead of the Lunar New Year holiday, we will pay delivery proceeds up to 10 days earlier than the scheduled payment date," and added, "We will continue activities for mutual growth with our partner companies."
Amorepacific Group has been making early payments of transaction proceeds before holiday breaks begin since the mid-2000s to help partner companies manage cash flow smoothly.