18th Dec 2006 07:20
Samsung Electronics Co. Ld18 December 2006 Insurance Policy Purchase On December 15, 2006, the BOD of Samsung Electronics authorized to renew theseverance payment insurance policy with Samsung Life. - Details 1. The purchase of insurance policy aims to manage severance pay in astable manner and improve profitability of the asset. 2. Insurance policy purchase date: December 31, 2006 3. Insurance details - Total premium: KRW 261.9 billion (taking into account KRW 15.7 billion of future interest accruals and the interim payment of KRW 162.3 billion, the actual premium to be paid is KRW 83.9 billion) - Samsung Life will pay 59% of severance pay in case a Samsung Electronics employee leaves the company. - Insurance period: December 31, 2006 to December 30, 2007 - Premium payment: payment in full - Interest rate: 4.1 % (floating rate) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Samsung El.gdr