Charitable Contribution

Source: RNS
RNS Number : 0732X
Samsung Electronics Co. Ld
29 April 2021
 

Charitable Contribution

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on April 29, 2021

announced that its Board of Directors has authorized the following contributions.

 

Provision of performance incentives to suppliers of the Device Solutions Division

 

- SEC will provide approximately KRW 63.2 billion for incentives among 269 first- and second- tier suppliers of
the DS Division that are classified as small- and medium-size companies and are stationed within the operations.

 

- The incentives aim to prevent worksite accidents, improve product quality, and support co-growth.

 

- Evaluations are based on supplier performance in the first-half (Jan-June) and second half (July-Dec) and will
be conducted in July 2021 and February 2022, respectively.

 

- Suppliers scoring above a certain rating will receive incentive payments from an available total of an estimated
KRW 63.2 billion, although the amount 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 at DS Division is KRW 88 billion.

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