Shinsegae Group to Advance Payment of 838 Billion KRW to Partner Companies

Advance Settlement Schedule by up to 8 Days

[Asia Economy Reporter Lim Chun-han] Shinsegae Group announced on the 15th that it will make early payments of delivery fees to small and medium-sized partner companies ahead of the Chuseok holiday.

The scale of the delivery fees to be paid early this time amounts to approximately 838 billion KRW to 13,535 partner companies. By company, Emart will pay about 218 billion KRW to 1,945 partner companies, Shinsegae Department Store about 480 billion KRW to 2,600 partner companies, Emart Everyday about 3.7 billion KRW to 77 partner companies, and SSG.com about 136.5 billion KRW to 8,913 partner companies.

Shinsegae Group will advance the payment schedule for delivery fees by up to 8 days from the usual settlement date, making payments between the 7th and 8th of next month.

A Shinsegae Group official said, “Ahead of the holiday, which requires significant funds for bonuses, wages, and raw material payments, we have advanced the delivery fee payments to small and medium-sized partner companies,” adding, “We will make multifaceted efforts for mutual growth with our partners to overcome these difficult times together.”