LG Agrees to Monthly Payment Deadlines and 900B Won Fund for Suppliers on July 6

According to the Korea Fair Trade Commission, LG Electronics and six subsidiaries signed a partnership agreement with their suppliers on July 6, committing to operational improvements across supply chain tiers. Under the agreement, LG will process first-tier supplier payments at least three times monthly and settle invoices within 10 days, maintaining 100% cash settlement ratios. The company will allocate 90 billion won from its 900 billion won co-prosperity fund to support second-tier and below suppliers, expanding employment benefits to their staff.
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