Namyang Dairy, Early Payment of 39 Billion Won to Partner Companies for Win-Win Management Ahead of Holidays

[Asia Economy Reporter Lee Seon-ae] Namyang Dairy Products announced on the 22nd that it will actively engage in win-win management by paying 39 billion KRW in advance to over 830 partner companies ahead of the Lunar New Year holiday and launching a ‘Clean Holiday Campaign’ to promote a healthy holiday culture.

To help partner companies manage their funds stably, the payment deadline for transaction amounts has been moved up by more than a week, and the ‘Clean Holiday Campaign,’ which includes prohibitions on money and gift exchanges during the holiday period, is being implemented to foster a healthy and warm holiday culture.

CEO Lee Kwang-beom said, “In 2019, Namyang Dairy Products was recognized by the Fair Trade Commission for setting an example in forming fair trade relationships with partner companies and received the highest grade Fair Trade Agreement Chairman’s Commendation. Ahead of the 2020 Lunar New Year, we are pleased to take steps toward win-win management with our partner companies.” He added, “We are always grateful to the many partners and agency owners who have trusted and worked with us despite difficult times, and we will continue to be Namyang Dairy Products that leads a culture of mutual growth to repay that trust.”

Since the 2013 incident, Namyang Dairy Products has been the first in the industry to completely overhaul its ordering and return system to make push-selling fundamentally impossible. It also regularly operates a Clean Center to monitor unfair trade practices, unjust profits, fraudulent acts, and unethical behavior.

Additionally, as the first in the dairy industry to implement a scholarship welfare system and childbirth incentive support policy for agency owners, Namyang Dairy Products has continuously strived for mutual growth with partners by ▲providing scholarships totaling 730 million KRW over the past seven years to 563 children of agency owners and ▲distributing 50 million KRW in childbirth incentives to 17 agency households.

Furthermore, in cooperation with employees, agency owners, NGOs, and various organizations, the company has continued diverse sponsorship activities such as volunteering to share briquettes for underprivileged local communities and providing infant care volunteer services.