Transaction with Affiliate Company
Updated : 09:33
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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