Payment made up to 10 days ahead of schedule

[Amorepacific]
[Amorepacific]

Amorepacific Group announced Thursday that it has made early payments to its suppliers ahead of the Chuseok holiday.

The payments cover about 600 suppliers that provide raw materials, packaging and products to nine Amorepacific Group affiliates. The group began disbursing 64.9 billion won ($47.4 million) in trade payments Thursday — funds originally scheduled for release by Sept. 27.

Amorepacific Group has made early supplier payments before holiday seasons since the mid-2000s.

"This is a payment made up to 10 days ahead of the scheduled date," said Lee Sang-mok, chief executive of Amorepacific Holdings. "We will continue activities aimed at mutual growth with our suppliers."


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