30th Nov 2020 08:45
Transaction with Affiliate Company
The Board of Directors of Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on November 30, 2020 authorized the following related-party transaction with an affiliated company:
Retirement pension policy reserves transferred from Samsung Securities
- KRW 548.6 billion, the balance of pension funds at Samsung Securities under the transactions announced on
November 27, 2014 and November 29, 2016, shall be transferred to non-affiliated companies (banks and
insurance companies) in order to ensure stable benefits management and profitability.
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 5 billion
and the counterparty is a financial affiliate of the party required to make the disclosure.
Related Shares:
Samsung El.gdr