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| Kim Ki-nam, Vice Chairman of Samsung Electronics, is speaking at the 52nd Samsung Electronics regular shareholders’ meeting held at the Suwon Convention Center on the morning of the 17th. 2021.3.17 / Reporter Kim Do-woo [email protected] |
Achieved KRW 237 trillion in sales under difficult conditions
System Semiconductor, Laying the Foundation for Future Growth
Revealed the meaning of’sincerity implementation of shareholder return policy’
Promise to actively promote social and environmental contributions
Samsung Electronics held the ’52th regular shareholders’ meeting’ at the Suwon Convention Center on the 17th. This shareholders’ meeting was broadcasted online for the first time.
About 900 people including shareholders, institutional investors, CEO Ki-nam Kim (Vice-Chairman), Hyun-seok Kim (Chairman), and Dong-jin Ko (Chairman) attended the general shareholders’ meeting held from this morning.
At the general shareholders’ meeting, approval of financial statements, appointment of inside and outside directors, appointment of outside directors to become members of the audit committee, and approval of the compensation limit for directors were proposed.
CEO Kim Ki-nam (Vice-Chairman) said in a greeting, “We achieved solid performance of 237 trillion won in sales and 36 trillion won in operating profit on a consolidated basis despite difficult business conditions last year.”
“The DS division further strengthened its leadership in the semiconductor market by expanding sales of differentiated high-capacity products in the memory business, and the system semiconductor business laid the foundation for future growth, such as expanding the mass production of the EUV process.”
Regarding the set business, he said, “The CE division has solidified its premium leadership by introducing new QLED TVs and Bespoke home appliances, and the IM division has led the market by releasing a flagship smartphone equipped with advanced technology and an innovative foldable phone.”
Vice Chairman Kim emphasized that Samsung Electronics’ global brand value is ranked 5th, reaching 62.3 billion dollars (about 70 trillion won) in terms of monetary value. At the general shareholders’ meeting that day, he also revealed his intention to faithfully implement the shareholder return policy that Samsung Electronics has advocated.
He said, “In order to faithfully fulfill the promise of shareholder return, we have decided to pay a total of 28.9 trillion won in regular dividends over the past three years, and to pay 10.7 trillion won of remaining financial resources in addition to the regular dividends in 2020 as a special dividend.” For the three years from 2021 to 2023, the amount of regular dividends has been raised to 9.8 trillion won per year, and if there are remaining financial resources that exceed the regular dividend within 50% of the free cash flow each year, we will review some early return.” Explained.
Samsung Electronics broadcasted its shareholders’ meeting online for the first time this year. This is the second improvement measure at the general shareholders’ meeting following the introduction of the electronic voting system last year.
On this day, Samsung Electronics promised active social contribution activities and environmental contribution management.
He said, “The company is carrying out various activities to improve the environment, such as improving energy efficiency and reducing harmful substances for sustainable growth. It is not neglecting its social responsibility, such as supporting many youths to receive quality education.” “We provided management stabilization funds and logistics costs to partner companies, and we tried to overcome the crisis through win-win growth, including support for manufacturers of masks, diagnostic kits, and vaccine syringes, and providing training centers for the company for corona healing,” he said.
Lastly, “We are making efforts to further strengthen compliance management by establishing the Samsung Compliance Monitoring Committee as a separate and independent organization.” “We will lay the foundation for a company in the year.”
/ Reporter Shin Ji-young [email protected]