According to a recently disclosed Samsung Electronics regulatory document, the company plans to borrow 2 billion won from Samsung Display (currently about 10.74 million CNY) and is willing to pay a 4.6% interest rate.
According to the regulatory filing, Samsung Electronics plans to borrow 2 billion won at an interest rate of 4.6 percent, which it plans to repay by August 2025. The document states that Samsung Electronics hopes to borrow the funds for the company’s operations and to pay for daily expenses, including employee salaries.
(Note: The underlined part above is from the SamMobile report, which mentions that it is used to pay employees’ salaries and other business operations. There are also reports (1,2) that the funds were used to maintain semiconductor investments.)
Samsung Electronics previously announced financial report data for the fourth quarter of 2022: the company’s revenue in this quarter fell by 8% year-on-year, and operating profit fell by 69% year-on-year. Samsung Electronics full-year profit in 2022 will be 43.38 trillion won (currently about 232.951 billion CNY).
Samsung Electronics, Samsung DX and Semiconductor divisions did not perform well in the fourth quarter, while Samsung Display performed well. This is mainly due to Samsung Display supplying Apple with screens for the iPhone 14 series models.
