Aekyung Industrial, a global total beauty company, has announced its decision to expedite payment for its partner suppliers ahead of the Chuseok holiday.
The company will provide early payments amounting to approximately 12.5 billion KRW to 50 of its partner suppliers, advancing payment dates by up to seven days. This initiative is designed to help partners secure cash flow during the high-demand holiday period, thereby alleviating financial burdens and fostering mutual growth.
An Aekyung Industrial representative stated that the early payment is hoped to provide tangible assistance in managing finances for partners before the Chuseok celebrations. The company is committed to establishing a sustainable supply ecosystem based on mutual prosperity with its partners.
Since the 2022 Seollal holiday, Aekyung Industrial has been making early payments to its partners. By this Chuseok, the cumulative early payments will reach a total of 94.3 billion KRW. Additionally, Aekyung is focused on ongoing efforts to support its partners through various initiatives, including proposals for managing accident rates, enhancing supply chain sustainability, providing safety and health education, operating grievance channels, and implementing performance-sharing systems aimed at mutual growth.
