20 Major Conglomerates to Make 9.6 Trillion Won in Early Supplier Payments Ahead of Chuseok

Payments Made Up to 23 Days in Advance

Chuseok-Driven Win-Win Initiatives and Community Outreach

The 20 leading conglomerate groups in Korea will be making early payments totaling 9.6 trillion won in delivery payments to their partner companies ahead of the Chuseok holiday, in an effort to relieve financial strain on their suppliers.

The Federation of Korean Industries (FKI) and the FKI SME Cooperation Center announced on the 16th the results of their “2026 Chuseok Advance Payment Survey for Subcontractors and Suppliers.” The survey targeted 20 major groups, including Samsung, SK, Hyundai Motor, LG, Hanwha, Lotte, POSCO, HD Hyundai, GS, Shinsegae, Hanjin, KT, LS, CJ, Kakao, Doosan, Naver, Hyundai Department Store, Hyosung, and Harim.

Yonhap News Agency

According to the survey, participating groups will advance payments to their partner companies by up to 23 days compared to the originally scheduled dates, in order to handle a surge in temporary funding needs prior to Chuseok—such as payments for raw materials and bonuses for employees. This early payment initiative is expected to extend beyond primary partners to secondary and tertiary suppliers, improving liquidity throughout the entire industrial supply chain.

In addition to early payments, these conglomerates are also launching various support programs to stabilize partner management and enhance employee welfare. Samsung, SK, LG, Lotte, POSCO, HD Hyundai, GS, KT, Doosan, and Hyundai Department Store are helping reduce financial costs for partner companies by utilizing win-win payment systems, mutual growth funds, and co-prosperity collaboration funds. Further, Samsung, SK, Hanwha, Lotte, GS, Shinsegae, Doosan, Naver, and Harim are boosting morale by providing Onnuri Gift Certificates, holiday gift sets, and travel expenses to employees of partner firms and franchise owners.

A variety of social contribution activities are also being carried out to revitalize local economies and support vulnerable groups. Samsung and Hyundai Motor are supporting holiday and direct-trade markets, POSCO is promoting an advance payment campaign at traditional markets, and Hanwha is helping local agri-food SMEs expand their online and offline sales channels. In addition, activities aimed at bridging the digital divide are being strengthened, such as Lotte’s online grocery shopping and kiosk training, and Hanwha’s real-life, AI-based tailored education for seniors.

Choo Kwangho, Head of the FKI SME Cooperation Center, stated, "This year’s support measures are evolving beyond mere product provision to encompass multidimensional approaches, including low-interest financial assistance, welfare benefits, market expansion, and digital capacity building. We hope these multifaceted efforts will spread to secondary and tertiary partners as well as the broader local community, serving as a catalyst to revitalize the sluggish livelihood economy."

This content was produced with the assistance of AI translation services.