Korea's top 30 conglomerates will provide a combined 1.85 trillion won ($1.6 billion) in financial support to their partner companies this year to help them maintain the quality of their products, a business lobby said Monday.
The planned figure is up 6 percent from their actual execution of 1.74 trillion won for business partners last year, according to data from the Federation of Korean Industries (FKI).
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Federation of Korean Industries (Yonhap) |
"As conglomerates manufacture more technologically advanced products, it has become more important for them to help their partner firms develop related technologies and maintain a high level of quality in products in a win-win strategy," an FKI official said.
"The top 30 companies will continue to extend a financial helping hand to their partners despite the prolonged economic slowdown." (Yonhap)