Hanwha Group to Advance 90 Billion KRW Payments to Partners Before Lunar New Year

Payment to Approximately 1,500 Partner Companies

Hanwha Group headquarters building exterior. (Photo by Hanwha)

[Asia Economy Reporter Moon Chaeseok] Hanwha Group announced on the 26th that it will advance payments totaling approximately 90 billion KRW to about 1,500 partner companies to ease their financial burdens ahead of the Lunar New Year holiday.

By affiliate, Hanwha will provide 12.1 billion KRW, Hanwha Solutions 27.7 billion KRW, Hanwha Aerospace 14.4 billion KRW, Hanwha Defense 11.4 billion KRW, Hanwha Total 9 billion KRW, and Hanwha Systems 7 billion KRW. Payments will be made up to 54 days earlier than usual.

Additionally, the group’s major affiliates plan to purchase local specialties and present them as Lunar New Year gifts to in-house partner companies, contract workers, and key customers. Hanwha expects this purchase of local specialties, amounting to 4 billion KRW, to contribute to revitalizing the local economy.