Shinsegae Group to Advance Payment of 190 Billion KRW to Partners Before Chuseok

Emart, Shinsegae, and Emart Everyday Advance Payment to Partner Suppliers
Accelerated Settlement Schedule Expected to Support Smooth Fund Management for Small and Medium Partners

[Asia Economy Reporter Lim Hye-seon] Shinsegae Group announced on the 8th that it will advance the payment of delivery fees worth 190 billion KRW to small and medium-sized partner companies ahead of Chuseok.

Emart will advance approximately 130 billion KRW to about 300 partner companies, Shinsegae will advance about 50 billion KRW to about 1,600 partner companies, and Emart Everyday will advance 12 billion KRW to about 150 partner companies.

Shinsegae Group has moved up the payment schedule for delivery fees by 4 to 10 days from the original settlement dates ahead of Chuseok. Emart and Emart Everyday will pay the settlement originally scheduled for September 29 on September 25, 4 days earlier, and Shinsegae will pay on September 28, 10 days earlier than the originally scheduled payment date of October 8.

A Shinsegae Group official said, "Considering that partner companies have significant cash needs during holidays for bonuses, wages, and raw material payments, we are implementing early payment of product fees ahead of the holiday to promote mutual growth with small and medium-sized partner companies," adding, "We plan to continue exploring and implementing various ways to coexist with our partner companies."