Shinsegae Group will pay about 1.7 trillion won in payments before this year’s Lunar New Year holiday, it said on Jan. 27.
The amount combines regular scheduled payments with early disbursements executed up to 7 days earlier to ease partners’ funding burdens. The aim is to help partner companies manage cash smoothly during a period when funding demand concentrates around the holiday.
A Shinsegae Group official said the company also makes payments 3 to 4 times a month in normal times to help ensure stable use of funds by partner companies. The official added it will continue working to build a win-win ecosystem.
The decision reflects consideration for liquidity at small partner companies amid a difficult business environment marked by high prices and high interest rates. The payments cover all partner companies doing business with major affiliates, including Shinsegae Department Store and E-Mart.
The group said it expects the early payments to provide practical help to smaller businesses that face a temporary surge in funding needs during the holiday, such as for bonus payments and settlement of raw material bills.
Seulgi Son
sageson@d-today.co.kr