Amorepacific Advances 28 Billion KRW Payments to 400 Suppliers Ahead of Lunar New Year
Creatrip Team
6 months ago
Amorepacific Group will advance 28 billion KRW (approx. 280억원) in payments to about 400 suppliers across its nine affiliates to ease cash flow ahead of the Lunar New Year. Payments originally scheduled by Jan 20 will be accelerated by up to 10 days and disbursed sequentially starting immediately. The group has practiced early holiday payments since the mid-2000s to support partners’ working capital. CEO Lee Sang-mok (이상목) said the move aims to relieve suppliers’ financial strain before the holiday and that the company will continue efforts for mutual growth with partner firms. (Lunar New Year: major Korean holiday also called Seollal)
