SK Telecom said Friday it will make early payments totaling approximately 112 billion won ($80 million) to small and medium-sized partners alongside SK Broadband to ease their financial burden ahead of the Lunar New Year holiday.
The early payment program covers about 500 partners handling network construction, maintenance and services, as well as 250 distribution channels. Payments will be made sequentially up to three weeks earlier than originally scheduled, with completion expected before the holiday begins.
SK Telecom established the industry's first dedicated department for shared growth and mutual cooperation in 2003. The company operates various financial support programs including the "Shared Growth Fund" and "Immediate Payment" system to help stabilize partners' business operations.
The Shared Growth Fund uses interest from deposits contributed by SK Telecom to reduce partners' loan interest burdens and provide emergency financing. Top-rated partners receive interest-free loans, reducing their borrowing costs by an average of 5.2 percentage points.
The Immediate Payment system guarantees 100% cash payment within two days of expenditure approval. Available to all SMEs without conditions or amount limits, it has become a flagship program supporting partners' cash flow management.
SKT also provides partners with employee welfare benefits, recruitment and free training support, and assistance in building ESG management systems. These efforts helped the company achieve the highest rating in the Shared Growth Index evaluation for 13 consecutive years.
"We decided on this early payment out of deep empathy for the business difficulties our SME partners face during the Lunar New Year holiday," said Park Jong-seok, CFO of SKT. "We will continue building a healthy ICT ecosystem where we grow together with our partners."