Lotte promotes shared growth with partner firms through practical support
Lotte Group is carrying out a range of practical measures to promote mutual growth with its partner companies. The group helps ease smaller partners’ financial burden by making payments for supplied goods ahead of major holidays, while supporting their overseas expansion through brand expo events. According to Lotte, the group has been making early payments to partner companies ahead of Korea’s…
Lotte Group has been actively promoting shared growth with its partner companies through a series of practical measures. Since 2013, the group has been making early payments to partner companies ahead of major holidays, easing their financial burden by providing funds for expenses such as employee bonuses and raw material payments.
Last year, Lotte paid 949.5 billion won ($701 million) to over 12,000 partner companies, eight days earlier than scheduled, with 27 Lotte companies participating in the program. Additionally, Lotte operates a 1 trillion won Shared Growth Fund to help reduce the interest burden on loans for partner firms and has introduced various programs to support their sustainable growth.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
