Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC"), on November 29, 2024, announced that its Board of Directors has authorized the following related-party transactions with affiliated companies.
Purchase of retirement pension policy from Samsung Life Insurance
- To ensure the stability of retirement benefit management and enhance overall profitability of the pension policy.
| Insurer | Samsung Life Insurance | |
| Policy premium | KRW 36.0 billion | |
| Type of policy | Retirement Pension Policy - Defined Contribution | |
| Terms of payment | Installment payments | |
| Insurance | Pay retirement benefit at the time of retirement | |
| Other |
|
Purchase of retirement pension policy from Samsung Securities
- To ensure the stability of retirement benefit management and enhance overall profitability of the pension policy.
| Insurer | Samsung Securities | |
| Policy premium | KRW 57.5 billion | |
| Type of policy | Retirement Pension Policy - Defined Contribution | |
| Terms of payment | Installment payments | |
| Insurance | Pay retirement benefit at the time of retirement | |
| Other |
|
Revised) Purchase of retirement pension policy from Samsung Securities
- To modify the information disclosed on November 30, 2023 as the estimated policy premium for financial year 2024 increased by more than 20% from a year ago(KRW 24.8 billion → 31.8)
| Insurer | Samsung Securities | |
| Policy premium | KRW 31.8 billion | |
| Type of policy | Retirement Pension Policy - Defined Contribution | |
| Terms of payment | Installment payments | |
| Insurance | Pay retirement benefit at the time of retirement | |
| Other |
|
Sale of real estate to Samsung SDS
| Transaction time | December 2024 | |
| Transaction amount | KRW 21.5 billion | |
| Purpose of transaction | Sale of land and building | |
| Other |
|
Other Information:
ž Number of Independent Directors present at the Board of Directors meeting: 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 10 billion and the counterparty is a financial affiliate of the party required to make the disclosure.
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