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Last checked at 
29 Apr 2021 10:33
Transaction with Affiliate Company
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Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on April 29, 2021 announced that its Board of Directors has authorized the following transaction with an affiliated company.
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Investment in the New Technology Investment Association
- Investment in the New Technology Investment Association (SVIC 52) established by Samsung Venture Investment Corporation (SVIC).
β‘ Major Transaction Terms
Transaction Date1) | - |
Transaction Value | KRW 99,000 million (to be made in cash) |
Purpose of Transaction | Technical and business cooperation through equity investments in startups at home and abroad |
Terms and Conditions | * With the investment, SEC joins the New Technology Investment Association (SVIC 52). * The total fund amounts to KRW 100 billion, which consists of KRW 99 billion from SEC and KRW 1 billion from SVIC. Β 1) SEC will join the association on May 17, 2021, and the funds will be paid when needed via investments or expense payments over the 7-year term of SVIC 52. Both SEC's join date and duration of SVIC 52 are subject to change. |
Other Information:
ΕΎ Number of Independent Directors present at the Board meeting: 6 (100%)
ΕΎ Attendance of Audit Committee: Y
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β» This disclosure is in accordance with the Korean Fair Trade Act, which mandates that a company must disclose financial and
real estate transactions in the event the value of such a transaction is greater or equal to KRW 5 billion and the counterparty is
an affiliate of the party required to make the disclosure.
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