LG to Advance Payments to Partners by Up to 22 Days Ahead of Lunar New Year... 1.5 Trillion KRW in Scale

Nine LG Affiliates Join the Initiative
Kimchi and Daily Necessities Delivered to Marginalized Groups

LG Group announced on the 13th that it will participate in revitalizing the domestic economy by advancing payment for partner companies' delivery fees by up to 22 days ahead of the Lunar New Year holiday.

Nine affiliates including LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, LG Household & Health Care, LG Uplus, LG CNS, and D&O are participating, with the total amount of early payments reaching 1.5 trillion KRW.

LG Group. Photo by Kang Jin-hyung

LG affiliates operate a financial support program worth 1.23 trillion KRW, including win-win cooperation funds and direct loans, to help partner companies secure funds through low-interest loans.

In the case of LG Electronics, it operates a win-win cooperation fund worth a total of 300 billion KRW through commercial banks and deposits/contributions, providing low-interest loans to partner companies in need of operating funds. For partner companies requiring new and automated facility investments, it directly provides 40 billion KRW annually interest-free. LG Innotek operates a win-win growth fund worth 140 billion KRW, and LG Energy Solution established an investment support fund worth 150 billion KRW in 2020.

LG affiliates plan to share warmth by delivering daily necessities such as household goods and food to local neighbors in celebration of the Lunar New Year.

Starting from this day, LG Electronics donated a total of 3,000 kg of kimchi to 10 sister villages and plans to donate a total of 1,000 kg of kimchi to shelters for vulnerable groups such as children and the elderly through the Korea Social Welfare Council. LG Display will deliver daily necessities and heating supplies to local neighbors and marginalized groups in Paju, Gyeonggi Province, and Gumi, Gyeongbuk Province. LG Chem will provide daily necessities and heating supplies in Yeosu and Daesan. LG Household & Health Care plans to donate daily necessities, cosmetics, and beverages to women's youth institutions and elderly welfare facilities nationwide. LG HelloVision is conducting a social contribution activity called 'Sharing Market Donation' through the local channel commerce 'Jecheoljangteo,' where customers accumulate a donation of 1,000 KRW per purchase of Korean agricultural products. LG HelloVision plans to deliver matched donations from the second half of last year to local welfare organizations and support food packages for 150 families of children at risk of food insecurity.