AmorePacific Group to Advance Payments to Partners Ahead of Chuseok

Advance Payment of 71 Billion KRW to Over 750 Partner Companies

[Asia Economy Reporter Yujin Cho] Amorepacific Group announced on the 25th that it will make early payments of transaction amounts totaling 71 billion KRW to its partners ahead of the Chuseok holiday.

This payment targets over 750 partner companies supplying raw materials, containers, products, and more to 10 affiliates of Amorepacific Group. Accordingly, the transaction amounts totaling 71 billion KRW, originally scheduled for payment by the 9th of next month, will be paid in cash sequentially starting from today.

An Amorepacific Group official stated, "To alleviate the burden on partner companies whose cash flow demand temporarily concentrates ahead of the Chuseok holiday, we have decided to pay the delivery amounts up to 14 days earlier than the scheduled payment date," adding, "We will continue to prepare various win-win measures and strive to build genuine partnerships with our partners."

Since the mid-2000s, Amorepacific Group has been making early payments of transaction amounts before the start of holidays every year to ease the financial burden of its partner companies.