Hyndai Motor Group moves up supplier payments for ChuseokHyundai Motor Group said yesterday it will accelerate payments to 2,000 suppliers to help them deal with costs of the upcoming Chuseok holidays.
According to nation’s largest automotive group, about 2,000 suppliers of Hyundai Motor, Kia Motors and Hyundai Mobis will receive accelerated payments totaling 1.03 trillion won ($928 million). Hyundai said this will help suppliers with bonus payments paid to workers around Chuseok.
The group also said it bought 20 billion won worth of gift cards for traditional markets and distributed them to its employees to help the markets. Workers from Hyundai will also conduct a campaign to help low-income families from Sept. 2 to 15.