October 14, 2005 in Social Responsibility News

Agreement with the U.S. Justice Department on Antitrust Investigation

Samsung Electronics and Samsung Semiconductor Inc. (SSI), Samsung Electronics’ U.S. subsidiary, reached an agreement with the U.S. Justice Department over antitrust investigation launched in June 2002.

Under the agreement which was released by the U.S. Justice Department on October 14, 2005 (KST), SSI will pay $300,000,000 in penalties.

SSI had provisioned $100,000,000 in the Q4 2004 and the additional $200,000,000 in the Q3 2005 against possible costs in connection with the antitrust investigation.

Samsung Electronics expensed the additional provision as non operating expenses (equity method loss) in the Q3 2005.


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