Gift Box Get exclusive Black Friday offers on our incredible products delivered right into your inbox. Sign Up Now

December 03, 2012

Purchase of Retirement Pension Policy

Details are as follows:

1. Insurer: Samsung Life Insurance

2. Type of Pension Policy: Retirement pension policy

3. Terms and Conditions
- Retirement Pension Premium: KRW 527.7 billion
• Actual payment would amount to KRW 433.5 billion after deducting
KRW 94.2 billion in accruals of interests, etc.
- Retirement Pension Claim: Samsung Life Insurance will pay 80% of severance pay when a Samsung Electronics employee leaves the company

4. The purchase of retirement pension policy aims to manage severance pay in a stable manner and improve profitability of the asset.