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Finance

Financial firms step up Chuseok sharing drives, expand community outreach

Financial companies in South Korea are stepping up social contribution activities ahead of the Chuseok holiday, ranging from purchases to support traditional markets to aid for vulnerable groups and employee-led volunteering. The Financial Supervisory Service joined four firms and the Salvation Army for a market event in Seoul. Major banks and financial groups ran nationwide programs delivering goods and vouchers to welfare facilities, low-income households, seniors living alone, multicultural families and patients.

People

Deputy PM Baek visits Chuseok community sites, pledges to spread sharing culture

Deputy Prime Minister and Science and ICT Minister Baek Gyeong-hun (배경훈) visited a traditional market and a social welfare facility on Sept. 21 ahead of the Chuseok holiday to carry out community outreach. He met merchants at Huam Market to check conditions and bought holiday goods using Onnuri gift certificates. He later delivered donations raised by ministry staff and items bought at the market to the welfare facility Yeongnak Aeniaui Jip.

Industry

Samsung to pay 1.3 trillion won early to suppliers

Samsung said on Sept. 14 it will pay 1.3 trillion won in payments for goods to partner companies ahead of the Chuseok holiday and run an online marketplace for employees. Thirteen affiliates, including Samsung Electronics, will participate, paying about seven days earlier than planned. Samsung said the early payment amount is up about 110 billion won from last Chuseok. Seventeen affiliates will join the online market selling specialty products and smart-factory goods.