Hoban Group to Pay 144.7 Billion KRW in Cash for Construction Costs Ahead of Lunar New Year Holiday

[Asia Economy Reporter Kim Min-young] Hoban Group paid construction fees in cash to its partner companies ahead of the Lunar New Year holiday.

Hoban Construction and Hoban Industry, construction affiliates of Hoban Group, announced on the 20th that they paid 144.7 billion KRW in construction fees to alleviate the financial difficulties of partner companies struggling due to the prolonged COVID-19 pandemic. On this day, Hoban Group paid the full amount of construction and goods fees in cash to about 470 partner companies.

Additionally, starting this year, Hoban Group decided to advance the payment date of monthly construction fees to facilitate smooth fund management for partner companies. Accordingly, Hoban Group plans to pay the construction fees closed at the end of each month in cash to each partner company by the 10th of the following month.

A Hoban Group official said, "Hoban Group paid the full amount of construction fees in cash before the Lunar New Year holiday and decided to make payments by the 10th of the following month starting from this month's progress payments. We hope this helps partner companies manage their funds, and we will continue to strive for mutual growth and coexistence."