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 is actively promoting shared growth with its partner companies through practical support initiatives. In a bid to alleviate smaller partners' financial burdens, Lotte makes payments for supplied goods ahead of major holidays. This practice has been consistently followed since 2013, with the company paying early expenses such as employee bonuses and raw material payments before the holidays.
Notably, for the last Chuseok holiday last week, Lotte disbursed 949.5 billion won ($701 million) to over 12,000 partner companies, eight days earlier than the scheduled date. Participating in this program are 27 Lotte companies, including Lotte Department Store, Lotte E&C, Lotte Global Logistics, and Lotte Mart.
In addition to early payments, Lotte operates various programs aimed at supporting partner firms' sustainable growth. One such program is the 1 trillion won Shared Growth Fund, designed to help reduce partner companies' interest burden on loans. Furthermore, Lotte has recently introduced Sh, a specific program aimed at fostering sustainable growth within its partner network.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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