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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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Samsung Elec, affiliates fined $207 million over cafeteria contracts

06/24/2021 | 03:50am EST
FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul

SEOUL (Reuters) - Samsung Electronics and four affiliates have been fined 234.9 billion won ($207 million) for giving affiliate Samsung Welstory in-house cafeteria contracts since 2013 and ensuring a high profit margin, the Korea Fair Trade Commission (KFTC) watchdog said on Thursday.

Samsung Electronics said in a statement that there was no unfair support, the company strove to provide quality meals for its staff, and that it plans to show that the contracts were normal transactions by disputing the KFTC's decision in administrative litigation after review.

Samsung Welstory, a meal provider for cafeterias, is wholly owned by Samsung C&T, of which Samsung Electronics vice chairman Jay Y. Lee held a 18.1% stake as of May.

KFTC said in a statement that Samsung Electronics and affiliates unfairly supported Samsung Welstory by entering into private contracts with it since 2013, without opening up the cafeteria operations to competition from other providers and on terms favouring Welstory.

The terms included guaranteeing Welstory's margins on food material costs, payment of fees, and automatic reflection of inflation and wage increase rates, the KFTC said.

(Reporting by Joyce Lee; editing by Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG C&T CORPORATION -1.86% 105500 End-of-day quote.-23.55%
SAMSUNG ELECTRO-MECHANICS CO., LTD. -2.06% 166500 End-of-day quote.-6.46%
SAMSUNG ELECTRONICS CO., LTD. -1.38% 71300 End-of-day quote.-11.98%
SAMSUNG SDI CO., LTD. -2.96% 688000 End-of-day quote.9.55%
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Analyst Recommendations on SAMSUNG ELECTRONICS CO., LTD.
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Financials
Sales 2021 276 805 B 234 B 234 B
Net income 2021 39 545 B 33,5 B 33,5 B
Net cash 2021 109 091 B 92,3 B 92,3 B
P/E ratio 2021 11,8x
Yield 2021 2,03%
Capitalization 478 228 B 403 B 405 B
EV / Sales 2021 1,33x
EV / Sales 2022 1,17x
Nbr of Employees -
Free-Float 82,7%
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Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 40
Last Close Price 71 300,00 KRW
Average target price 96 925,00 KRW
Spread / Average Target 35,9%
EPS Revisions
Managers and Directors
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Hee-Chan Roh Chief Financial Officer
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