Major large corporations are advancing payment of a total of 9.6 trillion won in supplier invoices ahead of the Chuseok holiday to ease financial burdens on their suppliers. They are also promoting financial and welfare support, expanding sales channels, and engaging in community sharing activities.
The Korea Economic Daily (Hankyung) Association and The Korea Economic Daily (Hankyung) Association SME Cooperation Center announced on the 16th that as a result of conducting a survey titled "2026 Pre-Chuseok Advance Payment of Subcontracting and Supplier Invoices" targeting major large corporate groups, the 20th groups that responded to the survey plan to advance payments totaling 9.6 trillion won.
Major groups are advancing the payment schedule for supplier invoices ahead of Chuseok, considering the increased demand for funds by suppliers. Some groups will make payments up to 23 days earlier than scheduled. This is expected not only to help meet short-term funding needs such as wages and raw material costs for suppliers but also to expand support from first-tier suppliers to second- and third-tier suppliers, thereby improving overall supply chain liquidity.
Along with advancing supplier invoice payments, customized programs are being operated to support the financial burdens of suppliers and the welfare of their employees. SK, LG, Lotte, POSCO, HD Hyundai, GS, KT, Doosan, and Hyundai Department Store are using mutual payment systems, co-growth funds, and mutual cooperation funds to reduce the financial cost burden on suppliers and support their liquidity.
In addition, Samsung, SK, Hanwha, Lotte, GS, Shinsegae, Doosan, Naver, and Harim are providing Onnuri gift certificates, holiday gift sets, and gift cards to employees of supplier companies and franchise owners. Some groups also pay bonuses or return-home allowances to boost the morale of supplier company employees.
Activities to revitalize the local economy and contribute to society continue. Samsung operates a holiday market selling products from local farms and SMEs (small and medium-sized enterprises). Hyundai Motor supports direct sales markets between farmers and consumers linked to traditional markets, while POSCO is launching a pre-payment campaign at nearby traditional markets to stimulate consumption in local alleyways. GS is carrying out support projects linked to local specialties, and Hanwha is supporting the expansion of online and offline sales channels for local agricultural and food SMEs (small and medium-sized enterprises).
Support methods for vulnerable groups are also diversifying. Lotte is conducting digital literacy training on online shopping and using unmanned terminals (kiosks) for neighbors facing a digital information gap. Hanwha is providing customized AI (artificial intelligence) education for daily life to local elderly people, expanding its social contribution activities beyond simple material support to include strengthening digital capabilities and promoting self-reliance.
Choo Kwang-ho, Director of the Korea Economic Daily (Hankyung) Association's SME Center, said, "This year, support methods are evolving into a three-dimensional form that covers not only simple material distribution but also low-interest financial support, welfare benefits, expansion of sales channels, and strengthening of digital capabilities." He added, "We hope this will serve as a catalyst to bring warmth to the contracted livelihood economy."
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