LG Uplus will pay supply fees early and in full cash to small partner firms ahead of the Lunar New Year holiday and deliver gift sets to vulnerable people in Huam-dong, Jung-gu, it said on Tuesday.

Since 2014, LG Uplus has made early payments every holiday season to help about 1,300 small partner firms secure liquidity. For this Lunar New Year, it will pay about 25 billion won in a lump sum in cash on Feb. 13.

The early disbursement will be paid to partners responsible for supplying wireless repeaters and wired network equipment, network construction, and IT development and operations. Partners can use the funds secured early for new product production, facility investment and research and development.

LG Uplus is also carrying out various cooperation measures in addition to early payments. It has operated a shared growth fund for more than 10 years in partnership with IBK Industrial Bank of Korea to lend funds to small partners at preferential interest rates of 1.9 to 3.3 percent. It is also running a direct funding support programme that directly supports partners' new product development funding.

It also operates the NW equipment testbed and the IoT certification centre, which provide space and equipment so small partners can develop key technologies. It supports the protection of technologies developed by partners through the technology materials escrow system and the original proof service for trade secrets.

LG Uplus also prepared social contribution activities for vulnerable people. It will deliver about 100 gift sets, including canned ham, to the Huam-dong community service centre shortly before the holiday for vulnerable households. LG Uplus raised about 5 million won in donations through an internal sharing bazaar last month and used it to prepare the gift sets.

In addition, LG Uplus' South Gyeongsang sales unit signed a business agreement on Monday with the South Gyeongsang branch of the non-governmental organisation Good Neighbors to support volunteer activities and telecommunications services for 1 year. Under the agreement, LG Uplus will provide telecommunications services such as mobile phones and internet to Good Neighbors offices in Busan, Ulsan and Changwon.

Han Sang-eon (한상언), head of shared growth and strategic procurement at LG Uplus, said, "As a top-rated company in the shared growth index, we will continue to strengthen cooperation activities in various areas, including not only financial support but also technology support and support for sustainable growth."