An image of Yongsan headquarters provides by LG Uplus. LG Uplus announced on the 15th that, in celebration of the Lunar New Year, the company would pay 30 billion KRW in delivery fees in full cash to assist in securing liquidity for over 1,300 small and medium-sized partners. An additional payment date for the delivery fees before the Lunar New Year holiday is set for the 24th.
The funds for early payment will be distributed to partners involved in the delivery of wireless repeaters, wired network equipment, network construction, and IT development and operations. Partners can utilize the early secured funds for new product manufacturing, equipment investment, and research and development.
Since 2014, LG Uplus has been promoting coexistence with its partners by executing delivery payments ahead of major holidays, such as Chuseok and Lunar New Year. The cumulative amount of delivery payments made early by this Lunar New Year totals 520 billion KRW.
To ensure stable capital operation for its partners, LG Uplus also runs support programs. Over ten years, it has operated the “Mutual Growth Fund” in collaboration with Industrial Bank of Korea to provide low-interest loans (1.9%~3.3%) to small and medium partners. Additionally, it runs a “Direct Funding Support” program to support partners’ new product development costs directly. Programs aimed at sustainable growth for partners, such as enhancing productivity and strengthening ESG, are also being implemented.
Han Sang-Un, head of mutual growth and procurement at LG Uplus, stated, “As a company recognized as the best in mutual growth index, we will continue to enhance various mutual growth activities such as early payment of delivery fees, mutual growth funds, and consulting support.”