Charitable Contribution
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on October 31, 2024, announced that its Board of Directors has authorized the following contributions.
Contributions for a fund to provide performance incentives to suppliers for SEC's Device Solutions ("DS") Division
- SEC will provide approximately KRW 22.4 billion for incentives to be distributed to qualified
suppliers from the 181 first- and second-tier suppliers for the DS Division that are classified as
SMEs and are stationed within the operations.
- The incentives aim to contribute to preventing worksite accidents, improving product quality, and
expanding activities that encourage mutual cooperation with SEC's partners.
- Evaluations are based on supplier performances in the second half (July through December) of 2024
and will be conducted in February 2025.
- Suppliers scoring above a certain rating will receive incentive payments from an available total of
the estimated KRW 22.4 billion, which estimation is subject to change depending on evaluation
results and management outcome of DS Division.
- SEC will contribute to "Large, Small-and-Medium Size Enterprises, Farming and Fishing Industries
Cooperation Foundation," which will distribute the incentive to the eligible suppliers.
- The total estimated amount to be provided to all suppliers stationed within the DS Division
operations is KRW 29.3 billion.
Donations to the Federation of Korean Industries
- KRW 1.81 billion to the Federation of Korean Industries
- The amounts listed above will be paid in November 2024.
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