Samsung Life Insurance to Contribute KRW30 Billion to Affiliated Venture Fund

MT Newswires Live

Sep 21

Samsung Life Insurance (KRX:032830) will contribute 30 billion won to the SVIC 81st Productive Finance New Technology Business Investment Fund, according to a bourse filing on Monday.

SVIC is a venture investment fund to be established and managed by its affiliate Samsung Venture Investment.

The transaction is with a specially related party and falls under the Fair Trade Act's Article 26, with the investment aimed at making investments.

The fund's formation meeting is scheduled for the fourth quarter, with the actual contribution date undetermined due to the capital call method, and the disclosed amount is based on the board-approved commitment.

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