29 Oct 2020 08:03
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on October 29, 2020 announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.
Trademark License Agreement
- Grant trademark license to Samsung Biologics
□ Major Transaction Terms
Transaction Item | License fee for use of trademark |
Transaction Date | November 30, 2018 |
Transaction Period | February 1, 2018-January 31, 2021 |
Transaction Value | KRW 9,779 million (total transaction value: KRW 9,779 million) |
Contract Type | Negotiated contract |
Other information | * On a cumulative basis, the license fee was below KRW 5 billion at the end of 2019, but exceeded KRW 5 billion after adding the fee for 2020. Accordingly, the payment shall be made upon the approval of the Board of Directors.
* The transaction date is the date when the trade license agreement with Samsung Biologics was made.
* The transaction value is an estimate of cumulative license fee during the transaction period (3 years) and may change according to Samsung Biologics revenue.
* The license fee is set at 0.5% of Samsung Biologics' revenue (excluding revenue or purchases not related to the use of trademark) and shall be paid every year during the transaction period. |
Other Information:
ž Number of Independent Directors Present at the BOD Meeting: 6/6
ž 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 or equal to KRW 5 billion and the counterparty is
a financial affiliate of the party required to make the disclosure.
Samsung El.gdr (SMSN)