Samsung Electronics Brings ‘Hope’ to Youth in Africaon Nov 25, 2008
Samsung and International Youth Foundation Forge Partnership to Address Unemployment, Promote Development for Young People
Seoul, Korea - Nov 24, 2008 - Samsung Electronics Co., Ltd., a market leader and award-winning innovator in consumer electronics, has signed a new partnership agreement with the International Youth Foundation (IYF) to address youth unemployment in Africa as a part of its corporate social responsibility commitment in the region.
The nations of Africa face many challenges in their development efforts. Fundamental to addressing them is working to increase economic activity, particularly by promoting job skills and preparing young people for successful, long-term careers. The new collaboration will implement a multiple phase youth employment and entrepreneurship program. Phase I will begin immediately in Egypt, Kenya, Nigeria, and South Africa, and expands on current IYF programs in each country. Under the agreement, Samsung will provide financial support and work with IYF to find ways to utilize its cutting-edge technology and expertise to help address the employment needs of Africa’s youth.
The proposed projects will have a lasting impact on thousands of young people on the African continent and present an opportunity through which Samsung’s local employees can be directly involved. "Samsung's core philosophy is about devoting our talented people and technologies to produce the best products and services to contribute to global society," said Chiwon Suh, President and CEO Samsung Middle East and Africa. "Through this partnership, we hope to empower Africa’s young people and help them fulfill their dreams and aspirations for a better future for themselves and their communities."
"IYF believes that the core values of the Samsung Electronics are very well aligned with our own approach to youth development," said IYF President and CEO, Bill Reese. "Samsung's decision to highlight focus on youth unemployment for this initiative is insightful and visionary, and we are delighted to begin working with the Samsung team."
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2007 consolidated sales of approximately US$105 billion. Employing approximately 150,000 people in 134 offices in 62 countries, the company consists of four main business units: Digital Media Business, LCD Business, Semiconductor Business, and Telecommunication Business. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.
About International Youth Foundation
The International Youth Foundation (IYF) invests in the extraordinary potential of young people. Founded in 1990, IYF builds and maintains a worldwide community of businesses, governments, and civil society organizations committed to empowering youth to be healthy, productive, and engaged citizens. IYF programs are catalysts of change that help young people obtain a quality education, gain employability skills, make healthy choices, and improve their communities. To learn more visit www.iyfnet.org.
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