16th Feb 2021 09:02
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on February 16, 2021
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 Bioepis
□ Major Transaction Terms
Transaction Item | License fee for use of trademark |
Transaction Date | February 27, 2021 |
Transaction Period | February 1, 2021 - January 31, 2024 |
Transaction Value | KRW 7,505 million (total transaction value: KRW 7,505 million) |
Contract Type | Negotiated contract |
Other information | - The transaction date is the date when the trade license agreement with Samsung Bioepis was made. - Transaction period is the contract period. - The transaction value is an estimate and may change according to Samsung Bioepis revenue. * The license fee is set at 0.5% of Samsung Bioepis' 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.
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