42 billion won to be disbursed to over 500 partners before holiday
Hanjil Cement will make early payments totaling 42 billion won ($31.2 million) to its partner companies ahead of the Chuseok holiday.
The payments are scheduled for Sept. 21, up to two weeks ahead of the original due date, and will cover more than 500 partner firms.
"We determined that mutual growth is more important than ever, even as the construction sector continues to struggle," company President Jeon Geun-sik said. "We will build a sustainable partnership through meaningful support for our partners."
Hanjil Cement also operates an 11 billion won mutual-growth fund to help partner companies access low-interest loans. The company has also drawn attention for an oil-price indexing scheme that adjusts contract payments in line with fluctuations in fuel costs.
freiheit@heraldcorp.com
