Last checked at 27 Apr 2023 08:09
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.