Considering Partner Companies' Funding Needs
Early Payment of Total 254 Billion Won This Year
Financial Support Program Also Operated
SK Telecom announced on the 5th that it will make early payments totaling approximately 126 billion KRW to alleviate the financial burden of its small and medium-sized business partners ahead of Chuseok.
The early payment targets include about 300 business partners responsible for network construction, maintenance, and service operations, as well as around 250 agencies nationwide. SKT and SK Broadband will jointly carry out this initiative. Considering the cash flow needs of partners before the holiday, payments will be made earlier than the originally scheduled dates, with plans to complete payments before the start of the Chuseok holiday.
SKT has been implementing early payments every holiday season to support smooth cash flow for small and medium-sized partners, and this year, combining Lunar New Year and Chuseok, a total of 254 billion KRW will be paid early.
SKT, which established the industry's first dedicated department for win-win growth and cooperation in 2003, operates financial support programs such as the 'Win-Win Growth Fund' and 'Immediate Payment' on an ongoing basis to help small and medium partners maintain stable management.
The Win-Win Growth Fund, established in 2011, uses interest generated from funds contributed by SKT to support reduced loan interest rates and emergency loans for business partners. Notably, despite the trend of falling interest rates this year, the discounted interest rate has been expanded from a maximum of 2.02 percentage points last year to up to 2.7 percentage points. For top business partners, interest-free loans are provided, reducing average loan interest by nearly 6%.
The Immediate Payment program has been operating since 2004, providing 100% cash payments within two days of expenditure approval without requiring separate collateral when small and medium business partners request payments. It supports partners’ smooth cash flow by promptly paying regardless of the amount.
In addition to financial support programs, SKT continues to operate various win-win initiatives such as ▲ ESG management support ▲ free employee training courses including generative AI programs ▲ employee welfare support ▲ and an online exclusive recruitment portal for business partners. Last year, SKT achieved the highest grade for 11 consecutive years in the Win-Win Growth Index evaluation conducted by the Win-Win Growth Committee.
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