REG - Samsung Electronics - Charitable Contribution

Samsung Electronics CoAnnouncement

31/10/2024 09:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241031:nRSe4097Ka&default-theme=true

RNS Number : 4097K  Samsung Electronics Co. Ld  31 October 2024

Charitable Contribution

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on
October 31, 2024, 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 22.4 billion for incentives to be
distributed to qualified

 suppliers from the 181 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 second half (July
through December) of 2024

 and will be conducted in February 2025.

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

 the estimated KRW 22.4 billion, which estimation is subject to change
depending on evaluation

 results and management outcome of DS Division.

- 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 29.3 billion.

 

Donations to the Federation of Korean Industries

- KRW 1.81 billion to the Federation of Korean Industries

- The amounts listed above will be paid in November 2024.

 

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  MSCQKDBKCBDKCKN