29 Apr 2020 07:56
Charitable Contribution
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Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on April 29, 2020 announced that its Board of Directors has authorized the following contributions.
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Provision of performance incentives to suppliers of the Device Solutions Division
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- 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.
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- The initiative aims to promote worksite safety, improve productivity, and support co-growth.
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- 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.
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- 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
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- The contribution will be made to Large, Small-and-Medium Size Enterprises, Farming and Fishing Industries
Cooperation Foundation, which will distribute individual incentives.
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