Last checked at 29 Apr 2020 07:56
Charitable Contribution
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on April 29, 2020 announced that its Board of Directors has authorized the following contributions.
Provision of performance incentives to suppliers of the Device Solutions Division
- SEC will provide approximately KRW 80.5 billion in incentives to qualifying on-site suppliers of the DS Division, with
approximately KRW 62 billion allocated to up to 259 SME first- and second-tier suppliers.
- The initiative aims to promote worksite safety, improve productivity, and support co-growth.
- Suppliers are evaluated on their performance in the first half (January-June) and second half (July-December) of
the year; and results are provided in July 2020 and January 2021, respectively.
- Suppliers that meet or exceed a certain rating will receive an incentive payment from an estimated total of
KRW 62 billion, although the total is subject to change depending on evaluation results
- The contribution will be made to Large, Small-and-Medium Size Enterprises, Farming and Fishing Industries
Cooperation Foundation, which will distribute individual incentives.