Last checked at 28 Jul 2016 08:53
Transaction with SVIC
An affiliated company of Samsung Electronics
On 28th July 2016, the Board of Directors of Samsung Electronics decided to make additional investments
in Samsung Venture Investment Corporation's, an affiliated company of Samsung Electronics,
New Technology Investment Funds. SVIC plans to establish a new venture fund, SVIC 32. SVIC 32 is a
cooperative fund with its investment focus on the latest technologies to enhance competitiveness of existing
set businesses and identify future growth businesses. The transaction is expected occur during the third
quarter of 2016.
Details
- Investment Size : KRW 198 billion (99% of the total fund: KRW 200 billion)
※ Note: This disclosure is in accordance with the Korean Fair Trade Act Article 11-2 (Resolution of the Board of Directors and its Publication on Large-Scale Intra-Group Transaction) and Samsung Electronics the Article of Incorporation Article 40-1 which states any company belonging to a Corporate Group falling under the Presidential Decree with intend to channeling or trading funds, offering or trading securities, offering or trading assets, and/or offering or trading good and services that exceeds KRW 5 billion shall publish such intention in advance following a resolution of the Board of directors.