Samsung and LG to pay suppliers 1.9 trillion won early

  • Samsung and LG will accelerate supplier payments before the Chuseok holiday.
  • Samsung will pay 1.3 trillion won and LG 600 billion won ahead of schedule.
  • LG is expanding financing access for second- and third-tier suppliers.

Samsung and LG (003550.KS) will advance a combined 1.9 trillion won ($1.4 billion) in supplier payments before the Chuseok holiday, helping partner companies manage raw-material expenses and employee bonus payments. Samsung will pay 1.3 trillion won through 13 affiliates, while LG will advance 600 billion won through eight affiliates. LG is separately operating financing programs worth about 1.2 trillion won, including shared-growth funds and direct loans, and plans to extend more support to second- and third-tier suppliers. Samsung affiliates will also operate holiday online markets featuring products from partner villages, local farmers and small and mid-sized companies, while both groups are expanding broader community support.

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