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14 Feb 2023 09:16
Transaction with Affiliate Company
The Board of Directors of Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD), on February 14, 2023, authorized the following related-party transaction with an affiliated company.
Long-term Loans from Samsung Display Co., Ltd.
□ Major Transaction Terms
Loan Type | Long-term Loans | ||
Loan Agreement Date | February 16, 2023 | ||
Lender | Samsung Display Co., Ltd. | Relationship with the Lender | Affiliate |
Loan Period | February 17, 2023-August 16, 2025 | Maturity Date | August 16, 2025 |
Loan Amount | KRW 20 Trillion | ||
Total Equity of Borrower as of the End of the Previous Business Year | KRW 193,193,732 Million | ||
Percentage of Loan to Total Equity | 10.35% | ||
Interest Rate | 4.60%/year | ||
Method of Loan Repayment | Lump Sum at Maturity Date (Early Payment Possible) | ||
Purpose | Operational Costs | ||
Total Amount of Loans (in the Business Year the Agreement was Signed) | KRW 20 Trillion | ||
Total Assets of Borrower as of the End of the Previous Business Year | KRW 251,112,184 Million | Percentage of Loan to Total Assets | 7.96% |
Other Information:
∙ The loan is to guarantee operational costs.
∙ The above loan amount will be executed in parts from February 17, 2023, in consideration of various matters of
the two companies, and the loan will be paid off in a lump sum at the maturity date. The above values for total
equity and total assets are from the end of 2021 separate financial statements written in accordance with K-IFRS.
∙ The 'Total Amount of Loans,' set forth above, includes the value of the loan that is the subject of this disclosure.
∙ Date of a relevant disclosure: February 14, 2023 (Charitable Contribution)
∙ Number of Independent Directors present at the Board of Directors Meeting: 6 (100%)
∙ Attendance of Audit Committee: Y
※ 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 than or equal to KRW 5 billion and the counterparty is a financial affiliate of the party required to make the disclosure.
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