July 19, 2004 in Social Responsibility News

Sale of Real Estate to Related Party

1. Buyer (related party)

Samsung Corning Precision Glass




- Relationship to company

Affiliate




2. Details of sale

Date of sale

-




Real estate sold to the relate party

70,320 pyeongs of land




Location of real estate


Myeongam-ri Asan-si Chungcheongnam-do, Korea





Sales amount (KRW)

47,400,000,000




Accumulated amount of real estates sold to the related party concerned (KRW)

47,400,000,000




Profits and losses resulting from the sale (KRW)

-




3. Purpose of sale


The property deal aims to improve business operation efficiency through decreasing assets of the Company.





4. Board decision date

07/16/2004




- Attendance of outside directors

Present
(no.)

5

Absent
(no.)

2




- Attendance of auditors

Present




5. Applicability of Fair Trade Act

Yes




6. Others


- "Sales amount" and "Accumulated amount of real estates sold to major shareholder concerned" in item No. 2 are rounded off to the nearest 100 million. - "Auditors" in item No. 4 are members of the audit committee. - Regarding "Applicability of Fair Trade Act or not" in item No. 5, the Fair Trade Act requires a company to report to the Fair Trade Commission any trade exceeding KRW 10 billion or 10% of its shareholders' equity. Therefore, the Company is required to report the above property deal to the Fair Trade Commission.





※ Date of relevant disclosure

-


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