Daegu Hwaseong Industrial Pays 45 Billion Won Early to 200 Partner Companies Before Lunar New Year

Hwaseong Industrial Co., Ltd. (CEO and Chairman Lee Jong-won) has decided to promote mutual growth by making early payments of construction fees to its partner companies in celebration of the Lunar New Year holiday.

On the 5th, Hwaseong Industrial announced that it will take the lead in supporting smooth cash flow for partner companies facing difficulties in business operations due to the impact of the regional economy and the construction industry downturn.

Considering the temporary increase in cash demand for salaries and bonuses during the holiday season, about 200 partner companies will receive a total of 45 billion KRW in subcontract payments in full cash.

Daegu Hwaseong Industrial.

Hwaseong Industrial makes early payments of construction fees before the holidays every year to promote mutual cooperation with the local community. In addition, it has contributed a total of 3 billion KRW to the Large, Medium, and Small Enterprise Win-Win Cooperation Fund and 1.2 billion KRW to the Rural Win-Win Cooperation Fund, supporting small and medium partner companies as well as local farmers and fishermen. The company continuously supports partner companies in areas such as quality, safety, environmental improvement, productivity enhancement, technology promotion, management support, safety management, and disaster prevention.

Jung Pil-jae, Executive Director of Hwaseong Industrial’s Strategy Headquarters, said, “We are striving to contribute to the economy by supporting the stable management and cash liquidity of partner companies whose cash demand increases during the Lunar New Year holiday. Hwaseong Industrial will continue to grow together based on partnerships with local partner companies and work hard for the development of the region.”