[Asia Economy Reporter Jo In-kyung] Homeplus announced on the 20th that it will make early payments of approximately 50 billion KRW to facilitate smooth cash flow for small and medium-sized partner companies ahead of the Lunar New Year holiday.
The early payment targets are about 220 small and medium-sized partner companies excluding large corporations. Homeplus plans to pay these partners between the 5th and 10th of next month, before the Lunar New Year holiday, advancing the payment date by an average of 6 days and up to 15 days earlier than the normal payment date.
A Homeplus official stated, "Despite the worst-ever performance and difficulties caused by the novel coronavirus disease (COVID-19), we have decided to invest financial costs ourselves to pay for goods in advance before the holiday as part of sharing pain and co-growth with our partner companies," adding, "We hope this will help small and medium-sized partner companies reduce their financial burden and prepare for Lunar New Year operations."
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