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Charitable Contribution

29 Apr 2020 07:56

RNS Number : 2956L
Samsung Electronics Co. Ld
29 April 2020
 

Charitable Contribution

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on April 29, 2020 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 80.5 billion in incentives to qualifying on-site suppliers of the DS Division, with

approximately KRW 62 billion allocated to up to 259 SME first- and second-tier suppliers.

 

- The initiative aims to promote worksite safety, improve productivity, and support co-growth.

 

- Suppliers are evaluated on their performance in the first half (January-June) and second half (July-December) of

the year; and results are provided in July 2020 and January 2021, respectively.

 

- Suppliers that meet or exceed a certain rating will receive an incentive payment from an estimated total of

KRW 62 billion, although the total is subject to change depending on evaluation results

 

- The contribution will be made to Large, Small-and-Medium Size Enterprises, Farming and Fishing Industries

Cooperation Foundation, which will distribute individual incentives.

 

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 or visit www.rns.com.
 
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