SPC Samlip expands mutual growth fund to boost supplier support

SPC Samlip Co. CI

South Korean food products manufacturer SPC Samlip Co. announced on Tuesday that it will expand its mutual growth fund to 28 billion won ($20.8 million) to support the cash flow of its suppliers.

The company, which has been running a 20 billion won fund in collaboration with Shinhan Bank since 2016, is increasing the fund by 8 billion won.

Through this mutual growth fund, SPC Samlip offers partner companies access to loans with interest rates about 1.6 percentage points lower than standard rates.

The initiative is part of the company’s commitment to shared growth with its partners.

In addition to expanding the fund, SPC Samlip also said that it will advance payments to partner companies by three days ahead of the Chuseok holiday, further easing financial pressures for its suppliers during this period.