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).
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)