Hanwha Group said on Monday it will make early payments of about 179 billion won to partner companies ahead of the Lunar New Year holiday. Hanwha Aerospace will pay 74.5 billion won, Hanwha Ocean 55.3 billion won and Hanwha’s construction unit 11.7 billion won, among others. The amount is 9 billion won more than the 170 billion won paid early for last year’s Lunar New Year.

Hanwha Group has made early payments each Lunar New Year and Chuseok holiday to ease partner companies’ funding burdens. The company said it expects the early funding to reduce financial strain on partners and contribute to a virtuous economic cycle.

Hanwha Group Chairman Seung-youn Kim (김승연) also said in his New Year message this year, “Workers at our partner companies are also part of the Hanwha family, and local communities are the foundation of Hanwha’s business.” He added, “If we want to go far, we must go together.”

Major Hanwha Group affiliates will also carry out community sharing activities during the holiday. Hanwha Aerospace will deliver rice and daily necessities to elderly residents and underprivileged groups at its sites in Changwon, Yeosu and Boeun. Hanwha Ocean and Hanwha Solution will hold holiday food-sharing and environmental cleanup events at their sites in Geoje, Ulsan and Yeosu.