Daewoo Shipbuilding & Marine Engineering, Early Payment of Supplier Delivery Fees Ahead of Chuseok

[Asia Economy Reporter Park Soyeon] Daewoo Shipbuilding & Marine Engineering announced on the 23rd that it will advance the payment of delivery fees and progress payments worth 34 billion KRW to stabilize the management of small and medium-sized partner companies ahead of Chuseok.

Daewoo Shipbuilding & Marine Engineering will execute the delivery payments on the 28th of this month, one week earlier than the originally scheduled payment date of the 5th of next month.

A Daewoo Shipbuilding & Marine Engineering official said, "Since 2018, when the management situation improved, we have advanced delivery payments every holiday," adding, "Although both the parent company and partner companies are struggling due to the novel coronavirus infection (COVID-19), we will seek win-win cooperation."