POSCO Group to pay suppliers 436.8 billion won early for Chuseok

  • POSCO Group will pay suppliers 436.8 billion won early before Chuseok.
  • Five major subsidiaries will make full cash payments from the 17th through 23rd.
  • POSCO affiliates will conduct holiday meal, environmental and community-support programs nationwide.

POSCO Group will pay suppliers a combined 436.8 billion won ($315 million) in cash up to 13 days ahead of schedule before Chuseok, with payments planned from the 17th through the 23rd. POSCO, POSCO E&C, POSCO Future M, POSCO DX and POSCO Flow will participate. The early settlement is intended to support suppliers' cash flow and liquidity before the holiday. The group has advanced supplier payments before Lunar New Year and Chuseok every year and will also run community programs, including traditional-market shopping, meal services, support for people with disabilities, deliveries to 200 food-insecure households in Incheon and marine-environment cleanup activities.

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