SKT to Advance Payment of 110 Billion KRW to Partners Ahead of Lunar New Year

[Asia Economy Reporter Kang Nahum] SK Telecom announced on the 15th that it plans to make early payments totaling 110 billion KRW to help alleviate the financial burden of its business partners ahead of the Lunar New Year.

SK Telecom decided to make early payments to assist small and medium-sized business partners responsible for network construction and maintenance, as well as service operations, in managing their funds smoothly before the holiday season. SK Broadband and SK Stoa will also participate in the early payment initiative.

To grow together with its small and medium business partners, SK Telecom continues to operate various win-win programs such as the ▲Win-Win Growth Fund ▲Industrial Innovation Consulting ▲Online Recruitment Center for Business Partners.

The Win-Win Growth Fund operates by SK Telecom contributing funds that are deposited in banks, and the interest earned on these deposits is used to support lower loan interest rates and emergency loans for business partners.

In particular, to help reduce the financial burden on partners who have been increasingly strained due to the recent sharp economic downturn and interest rate hikes, the interest support rate for loans to excellent partners has been raised by 0.93 percentage points compared to before.

Additionally, to continuously grow together with business partners, SK Telecom provides ESG (Environmental, Social, and Governance) management diagnosis and improvement programs free of charge, and offers consulting to help resolve management issues such as practical measures for preventing major accidents.

SK Telecom also achieved the highest grade for 10 consecutive years in the 2022 Win-Win Growth Index evaluation (hosted by the Win-Win Growth Committee).

Kim Jinwon, Chief Financial Officer (CFO) of SK Telecom, said, "We decided to make early payments ahead of the holiday to provide practical support to our business partners who strive to deliver the best services in a rapidly changing business environment. We will continue to lead in creating an ecosystem where we can grow together."