June 20, 1996 in Social Responsibility News

SAMSUNG Electronics to Sponsor the Nobel Prize Series Worldwide

(SEOUL, Korea) - Samsung Electronics Co. (SEC) announced today that it has signed an agreement to sponsor the Nobel Prize Series worldwide. This series of programs developed under the direction of the Nobel Foundation in Sweden and the Norwegian Nobel Institute in Norway is designed to increase the awareness of the Nobel Laureates' achievements throughout the world. No financial terms were disclosed.
What began in 1978 as an one-hour television special has evolved into a series of television programs, educational videotapes and documentary films which are distributed throughout the world to promote a better understanding of Nobel Prize-winning achievements. The Nobel Prize Series recognizes individual achievements in several disciplines that have in Alfred Nobel's words, made "the greatest benefit to mankind."

Due to Samsung Electronics' ongoing commitment to be a responsible global corporate citizen that creates products and services that are aimed at improving the "betterment of humankind," sponsorship of the Nobel Prize Series was a logical extension of the company's existing corporate philosophy.

The sponsorship was actively pursued by many companies since only two companies are granted worldwide sponsor status. Samsung Electronics was chosen in part due to its commitment to digitize the existing Nobel Prize Series film archive - the largest collection of video materials documenting the achievements of Nobel Laureates in the world. As part of its sponsorship agreement, Samsung Electronics will support innovative vehicles to publish this Nobel archive on CD-ROMs and the internet. The other current Nobel Prize Series sponsor is Volvo AB of Sweden.

Furthermore, as part of its sponsorship, Samsung Electronics plans to launch a major corporate communications program involving advertising in Korea and abroad. The program will also include events to support the goals of the Nobel Prize Series which showcase how its products tcan effectively facilitate communication between people of different cultures, backgrounds and educational levels.

Samsung Electronics, through the sponsorship of the Nobel Prize Series, will gain access to the Nobel film archive for use in advertising and will involve Nobel Laureates themselves in many of its planned events. In addition, the Nobel Prize medal and mark can be incorporated into advertising and promotional materials produced by the company during the term of its sponsorship.

The Nobel Prize is awarded each year in the following categories: Physics, Chemistry, Physiology or Medicine, Literature and Peace. The Alfred Nobel Memorial Prize in Economic Sciences is also awarded each year in the memory of Alfred Nobel.

Samsung Electronics Co., Ltd., a US$21 billion flagship company of an US$84 billion Korean-based Samsung Group, is a world leader in the electronics sector, with operations in more than 60 countries. The company develops, manufactures, and markets audio and video products, household electronics goods, computers & peripheral products, display products, telecommunications & information systems, software tools & semiconductors. The company currently employs over 70,000 people worldwide.

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