[Courtesy of CJ]
[Courtesy of CJ]

CJ Group announced Tuesday it will make early payments totaling 660 billion won ($491 million) to small and midsize partner companies ahead of the Chuseok holiday, in a show of support for its supply chain.

Six major affiliates are participating — CJ CheilJedang, CJ Olive Young, CJ Logistics, CJ ENM's commerce division, CJ Freshway and CJ Olivenetworks — with payments going to roughly 7,400 small and midsize suppliers. The 660 billion won figure is more than double the amount paid out last year.

Payments will begin Friday and continue through the end of the Chuseok holiday period, running two weeks to about a month ahead of the original scheduled dates. "We hope this helps ease the temporary financial burden that falls on our small and midsize partners around the holiday season," a CJ Group official said.


spa@heraldcorp.com