Lotte Department Store to Early Settle 400 Billion KRW with Partners for Chuseok... Sends 'Win-Win Coffee Truck'

Payment of 400 Billion Won to Over 3,500 Partners Advanced by One Week
Operating Win-Win Coffee Truck... Sending 'RunBemyu' to Partners

Lotte Department Store announced on the 18th that it will engage in win-win management for its partners in celebration of the Chuseok holiday. The initiative aims to provide proactive support to partners facing business difficulties due to sluggish domestic demand and high inflation.

First, it will advance the payment of 400 billion KRW in sales proceeds. Considering the increased one-time expenses such as bonuses during Chuseok, this is to help partners manage their funds. Accordingly, the 400 billion KRW in sales proceeds for August will be paid about a week earlier, on September 13, to approximately 3,500 partner companies.

Lotte Department Store, awarded the Fair Trade Commission Chairman's Commendation at the '2024 Distribution Win-Win Conference.' Han Ki-jung, Chairman of the Fair Trade Commission, and Jeong Jun-ho, CEO of Lotte Department Store, are posing for a commemorative photo. (From left)
[Photo by Lotte Department Store]

A win-win coffee truck will also be operated to encourage partners. From August 26 to September 6, for about two weeks, the coffee truck will visit 102 outstanding partner companies and provide free refreshments to employees. The coffee truck plans to distribute bagels and cold brew sets from London Bagel Museum. Buyers from the relevant product categories will accompany the coffee truck to deliver messages of support.

In the second half of the year, ESG (Environmental, Social, and Governance) consulting support projects for partners will continue. Twenty small and medium-sized enterprises requiring ESG management will be recruited to receive ESG education and consulting support. Through the ESG consulting project, Lotte Department Store has produced about 40 ESG-certified excellent SMEs recognized by the Win-Win Growth Committee over the past three years.

Jung Jun-ho, CEO of Lotte Department Store, said, "We hope that the win-win support activities prepared for Chuseok will be of some help to our partners," adding, "We will continue to strive to find ways to grow together from the perspective of our partners."

Meanwhile, Lotte Department Store received the Fair Trade Commission Chairman’s Commendation at the '2024 Distribution Win-Win Conference' held last April and was selected as the best company in the 'Fair Trade Agreement Compliance Evaluation' hosted by the Fair Trade Commission in June.