Last checked at 30 Apr 2014 07:31
Transaction with SVIC
An affiliated company of Samsung Electronics
On 29th April 2014, 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 two new venture funds, SVIC 26 and SVIC 27. SVIC 26 is a cooperative fund with its investment focus on the latest technologies to enhance competitiveness of existing set businesses and identify the future growth businesses. SVIC 27 is a cooperative fund with its investment focus on the new manufacturing process and new material technology to strengthen the future of component businesses. The transaction is expected occur during the third quarter of 2014.
Details (Investment size)
1. SVIC 26 : KRW 198.0 billion (99% of the total fund: KRW 200 billion)
2. SVIC 27 : KRW 59.4 billion (99% of the total fund: KRW 60 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.