REG - Samsung Electronics - Charitable Contribution

Samsung Electronics CoAnnouncement

27/04/2023 08:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230427:nRSa6911Xa&default-theme=true

RNS Number : 6911X  Samsung Electronics Co. Ld  27 April 2023

Charitable Contribution

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on
April 27, 2023, announced that its Board of Directors has authorized the
following contributions.

 

Contributions for a fund to provide performance incentives to suppliers for
SEC's Device Solutions ("DS") Division

- SEC will provide approximately KRW 80.1 billion for incentives to be
distributed to qualified

 suppliers from the 236 first- and second-tier suppliers for the DS Division
that are classified as

 SMEs and are stationed within the operations.

- The incentives aim to contribute to preventing worksite accidents, improving
product quality, and

 expanding activities that encourage mutual cooperation with SEC's partners.

- Evaluations are based on supplier performances in the first half (January
through June) of 2023 and

 second half (July through December) of 2023 and will be conducted in July
2023 and January 2024,

 respectively.

- Suppliers scoring above a certain rating will receive incentive payments
from an available total of

 the estimated KRW 80.1 billion, which estimation is subject to change
depending on evaluation

 results.

- SEC will contribute to "Large, Small-and-Medium Size Enterprises, Farming
and Fishing Industries

 Cooperation Foundation," which will distribute the incentive to the eligible
suppliers.

- The total estimated amount to be provided to all suppliers stationed within
the DS Division

 operations is KRW 98.0 billion.

 

Supporting a Smart Factory Project

- SEC will assist domestic manufacturing Small-and-Medium Enterprises ("SME"),
regardless of

 whether they have a business relationship with SEC, by supporting a smart
factory project in order to

 contribute to bolstering Korea's manufacturing competitiveness and balanced
regional development.

- The contribution will total KRW 22.4 billion from 2023 through 2025.

- SEC will contribute KRW 16.4 billion to "Large, Small-and-Medium Size
Enterprises, Farming and

 Fishing Industries Cooperation Foundation" for smart-factory construction.

(The total amount will be distributed over the three years, and the timing of
distribution for each

year will be decided after consultations.)

- KRW 6.0 billion (KRW 2.0 billion each year) will be used for support
programs that promote SME

 self-sufficiency.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCNKOBKOBKKFQB