RNS Number : 5702Y
Samsung Electronics Co. Ld
31 July 2024
 

Transaction with Affiliate Company

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC" or the "Company"), on July 31, 2024, announced that its Board of Directors has authorized following transactions with following affiliated companies.

 

Purchase of Insurance Policy from Samsung Fire & Marine Insurance

□ Major transaction terms

Insurer

Samsung Fire & Marine Insurance Co., Ltd.

Application date

September 1, 2024

Type of insurance

Package insurance

Insurance premium

KRW 10.7 billion

Insurance coverage period

September 1, 2024-August 31, 2026 (24 months)

Insurance coverage

Buildings, machinery, etc., in SEC DX Division's various business and factory sites located in Korea

Method of insurance payment

Annual payment(2 years)

Purpose of transaction

To comprehensively insure against the risks and potential losses from property damage and injury to persons, as well as the suspension of operational activities, caused by fires, explosions, natural disasters, etc., at SEC DX Division's various business and factory sites in Korea.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting: 6 (100% attendance)

ž Attendance of Audit Committee: Y

 

□ Major transaction terms

Insurer

Samsung Fire & Marine Insurance Co., Ltd.

Application date

October 1, 2024

Type of insurance

Package insurance

Insurance premium

KRW 187.7 billion

Insurance coverage period

October 1, 2024-September 30, 2026 (24 months)

Insurance coverage

Buildings, machinery, etc., in SEC DS Division's various business and factory sites located in Korea

Method of insurance payment

Annual payment(2 years)

Purpose of transaction

To comprehensively insure against the risks and potential losses from property damage and injury to persons, as well as the suspension of operational activities, caused by fires, explosions, natural disasters, etc., at SEC DS Division's various business and factory sites in Korea.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting: 6 (100% attendance)

ž Attendance of Audit Committee: Y

 

 

 

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