September 24, 2001 in Social Responsibility News

Transfer of Yepp business

Contents
- Samsung Electronics Co., Ltd. is transferring its Yepp(MP3) business operated under the Digital Media division, to the subsidiary Blue-Tek owned by the Company
* About Blue-Tek
- Founded in December 2000
Shareholder strucuture: Capital stock of 33.3 billion won
-SEC: 30 billion won(90%), employees: 3 billion won(10%)




Reasons
-SEC's Digital Media division has operated its MP3 business using Flash Memory as its storage media while Blue-Tek Co., Ltd. has operated its MP3 business using Compact Disk as it storage media.
-SEC seeks to achieve synergy effect and prevent overlapping investment by transferring the MP3 business of the Digital Media division to Blue-Tek.
-As SEC owns 90% shares of Blue-Tek, Yepp business of SEC will be maintained.



Price
- 6.3 billion won (Asset: 3.9 billion won, goodwill: 2.4 billion won)
* The price includes A/S cost of 1.1 billion won associated with inventory and sold products that are currently under the warranty (net price: 5.2 billion won)
DATE of SEC's MP3 business tranfer: October 1, 2001


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